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DocuSign Envelope ID: 4FCBCDCE-0899-4F6C-874F-0B4F13354E20
Charity registration number: 1080792
Madani Girls' School
Annual report and financial statements
For the year ended 31st August 2023
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DocuSign Envelope ID: 4-CBCDCE-0899-4F6C-874F-0B4F13354E20
Madani Girls' School
Table of contents
Year ended 31st August 2023
Page
Reference and administrative information 1
Report of the trustees 2
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7
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DocuSign Envelope ID: 4-CBCDCE-0899-4F6C-874F-0B4F13354E20
Madani Girls' School
Reference and administrative information
Year ended 31st August 2023
Board of trustees Muhammad Abdur Rahman
Shafiqur Rahman Chowdhury
Mohammad Ahmad Ullah
Kazi Habibur Rahman
Md Altaf Hussain
Address of principal office Myrdle Street
London
E1 1HL
Independent examiner Young & Co Accountants Limited
160c Fencepiece Road
London
IG6 2LB
Bankers Natwest Bank
45 Whitchapel Road
London
E1 1DU
Page 1
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DocuSign Envelope ID: 4F [CBCDCE-0899-4F6C-874F-0B4F] 13354E20
Madani Girls' School
Report of the trustees
Year ended 31st August 2023
Our board of trustees (the board) has collective responsibility for everything that we
do, including the legal responsibility to ensure the charity is controlled and properly
managed.
In discharging their collective responsibilities the trustees are responsible for
preparing the trustees’ annual report and the financial statements in accordance with
the applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice) including FRS 102 (The Financial Reporting
Standard applicable in the UK and Republic of Ireland).
The law applicable to charities in England, Wales and Scotland requires the trustees to
prepare financial statements for each financial year. These must give a true and fair
view of the state of affairs of the charity, and of the incoming resources and
application of resources of the charity for that period. In preparing these financial
statements, the trustees are required to:
> select suitable accounting policies and then apply them consistently
> observe the methods and principles in the Charities SORP
> make judgments and estimates that are reasonable and prudent
> state whether applicable accounting standards have been followed
> prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the charity will continue in business.
The purpose of the charity, as set out in its governing document, is to advance
education by providing and maintaining an Islamic school / college or educational
institute for girls.
Our vision is large scale, and the aspiration is to be the first Islamic girls' school in
Britain to showcase the academic and behavioural standards of an all-girls' grammar
school in as Islamic setting.
In August 2019, we began our next phase with the construction of the Madani Hub, a
modern purpose built building to cater for the ever-growing needs of our pupils and
the wider community.
We aim to retain sufficient general funds in a range equivalent to approximately three
to five months’ forward expenditure. We try to hold these general reserves in case of
any sudden decline in income, so that we can honour our commitments to repay the
loan, fulfil contractual obligations to staff and pay running cost of the premises with
some confidence.
Page 2
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DocuSign Envelope ID: 4-CBCDCE-0899-4F6C-874F-0B4F13354E20 Madani Girls' School Report of the trustees Year ended 31st August 2023 We have assessed projected future income, expenditure and cash flows over the period to 31 August 2024, and analysed the strength of the charity’s reserves, liquid assets and its ability to withstand a material fall in income. We have concluded that there is a reasonable expectation that the charity has adequate resources to continue their activities for the foreseeable future. Therefore we have continued to adopt the going concern basis in preparing the financial statements. Signed on behalf of the Board of Trustees on 22 Feb 2024 by:[REDUK][KLEMM] ~~|~~[MUARMAMLD] ~~DocuSigned by: Muhammad~~ Abdur Rahman Chair of Madani Girls' School Page 3 DocuSign Envelope ID: FBBBE08A-EDE7-46FE-A9F2-EAE242AD6DFC Madani Girls' School Independent examiner's report to the Trustees of Madani Girls’ School Year ended 31st August 2023 | report to the trustees on my examination of the accounts of Madani Girls' School for the year ended 31st August 2023, which are set out on pages 5 to 9. Responsibilities and basis of report As the charity trustees of Madani Girls' School you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). | report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement | have completed my examination. | 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: (1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or (2) the accounts do not accord with those records; or (3) 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. | 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. signed: [Mdhamed.C4198FFA1CE44A8...DocuSigned by: yes Vantad Name: M A Vankad Fellow of Chartered Certified Accountants Address: 160c Fencepiece Road London IG6 2LB Date: 22nd Feb 2024 Page 4 4,319 40 DocuSign Envelope ID: 4-CBCDCE-0899-4F6C-874F-0B4F13354E20 Madani Girls' School Balance sheet As at 31st August 2023 **----- Start of picture text -----**
Note 2023 2022
£ £
Fixed assets
Land and building 3,141,653 3,141,653
Fixtures, fittings & equipment - -
Total fixed assets 3,141,653 3,141,653
Current assets
Cash in hand and balance at bank 37,712 46,863
Trade Debtors - -
Total current assets 37,712 46,863
Current liabilities
Trade creditors/accruals 81,377 81,377
Wages Due 52,741 52,191
Other taxes and social security 89,320 76,860
Creditors: amounts falling due within one year 223,438 210,428
Total assets less current liabilities 2,955,927 2,978,089
Interest free loan 2,055,109 2,069,109
Total net assets 900,818 908,980
The funds of the charity
Balance at start of period 908,980 1,049,601
Net (deficit)/profit - 8,162 -
Total unrestricted funds 900,818 1,049,601
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The accompanying notes form part of these accounts. Approved by the Board of Trustees Trustees on 22 Feb 2024[ABDUK][ RAMU] ~~|~~[MUKAMIMAD] ~~DocuSigned by:~~ Muhammad Abad Rattfnan Chair of Madani Girls' School Approved by the Board of Trustees Trustees on 22 Feb 2024 and signed on its behalf by: Page 6 DocuSign Envelope ID: 4-CBCDCE-0899-4F6C-874F-0B4F13354E20 Madani Girls' School Notes to the financial statements For the year ended 31st August 2023 ~~Note 1 - Basis of preparation~~ 1.1 Basis of accounting Madani Girls' School is a public benefit entity. The presentation currency of the financial statements is the Pound Sterling (£). These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 and with the Charities Act 2011. 1.2 Going concern The accounts (financial statements) have been prepared to give a ‘true and fair’ view. After making enquiries, the trustees have a reasonable expectation that Madani Girls' School has adequate resources to continue it's activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. ~~Note 2 - Accounting policies~~ 2.1 Income Recognition of income All income is accounted for in the SOFA when the Charity is legally entitled to the income, it is probable that the income will be received, and the amount can be quantified with reasonable accuracy. Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. 2.2 Expenditure and liabilities Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Creditors The charity has creditors which are measured at settlement amounts less any trade discounts. Provisions for liabilities A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. Page 7 DocuSign Envelope ID: 4—CBCDCE-0899-4F6C-874F-0B4F13354E20 Madani Girls' School Notes to the financial statements For the year ended 31st August 2023 2.3 Assets Tangible fixed assets for use by charity These are capitalised if they can be used for more than one year. The depreciation rates and methods used are disclosed in note 2.6. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. 2.4 Tax Madani Girls' School, as a registered charity is exempt from tax under Chapter 3 of Part 11 to the Corporation Tax Act 2010 or Section 256 of the Taxation for Chargeable Gains Act 1992, to the extent surpluses are applied to its charitable purposes. 2.5 Cash flow The charity meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemption in relation to presentation of a cash flow statement in respect of its financial statements. 2.6 Tangible fixed assets Tangible fixed assets (land and building) are stated at cost. No depreciation is calculated on any other fixed assets as these are not capitalised. Instead these are written off in the year of purchase. ## ~~Note 3 - Employees~~ The average number of employees, calculated on a full-time equivalent basis, during the year under review were 54 (2022 - 57). The above numbers include staff responsible for the management and support of the volunteers. The trustees have not received any remuneration or expenses in relation to their duties as trustees. Note 4 - Contribution from the volunteers We are very grateful to our large and hugely supportive volunteer base. Some work tirelessly to raise funds for our work and help run the charity, whilst others work directly with children and young people through our services such as being a trained volunteer or delivering our Maddrasah service. Given the absence of a reliable measurement basis, donated services from our volunteers are not included within the financial statements. This is in line with the requirements of Charities SORP (FRS 102). Page 8 DocuSign Envelope ID: 4-CBCDCE-0899-4F6C-874F-0B4F13354E20 Madani Girls' School Notes to the financial statements For the year ended 31st August 2023 ~~Note 5 - Capital commitments~~ The charity had no capital commitments as at 31 August 2023. ~~Note 6 - Contingent liabilities~~ There were no contingent liabilities at either the beginning or at the end of the financial year. Note 7 - Trustee remuneration and benefits None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity. ~~Note 8 - Tangible fixed assets~~ Land & Fixt‘ixtures, a: fittings & Building . t equipmen Total £ £ £ Cost or valuation At the beginning of the year 3,141,653 181,665 3,323,318 Additions - - - Adjustment - - - Disposals - - - At end of the year 3,141,653 181,665 3,323,318 Depreciation and impairments At beginning of the year - 181,665 181,665 Disposals - - - Depreciation - - - Impairment - - - At end of the year - 181,665 181,665 Net book value At the beginning of the year 3,141,653 - 3,141,653 At the end of the year 3,141,653 - 3,141,653 Page 9