Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Charity registration number: 1080792
Madani Girls' School
Annual report and financial statements
For the year ended 31st August 2024
Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School Table of contents Year ended 31st August 2024
| 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 |
Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School Reference and administrative information Year ended 31st August 2024
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 M.A.R Accountants ltd 685 Cranbrook Road London IG2 6SY Bankers Natwest Bank 45 Whitchapel Road London E1 1DU
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Madani Girls' School Report of the trustees Year ended 31st August 2024
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.
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Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School Report of the trustees Year ended 31st August 2024
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 12 Feb 2025 by:
Muhammad Abdur Rahman Chair of Madani Girls' School
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Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School
Independent examiner's report to the Trustees of Madani Girls' School Year ended 31st August 2024
I report to the trustees on my examination of the accounts of Madani Girls' School for the year ended 31st August 2024, 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’).
I 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 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
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:
(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.
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.
Signed:
Name: M Asad Fellow of Chartered Certified Accountants
Address: 685 Cranbrook Road London IG2 6SY
Date: 12th Feb 2024
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Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School
Statement of financial activities
Year ended 31st August 2024
| Income from donations / charitable activities: Parents' contribution Donations and other income Rental Income Other Income Total income Expenditure on: Wages and salaries Employer NI Pension Contributions Staff training and welfare Rates Light and heat Water Repairs and maintenance Telephone and fax Postage, printing and stationery Education / examination supplies and books Subscriptions Office Supplies IT Support Travel and subsistence Advertising, promotion and entertainment Accountants fees Insurance Bank charges Rental Property expense Refuse License fees Other expenses Total expenditure Net income Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Year Year Restricted & ended ended Unrestricted endowment 31st August 31st August funds funds 2024 2023 £ £ £ £ 818,224 - 818,224 821,336 21,952 - 21,952 6,565 46,684 - 46,684 49,897 4,110 - 4,110 946 890,970 - 890,970 878,744 728,156 - 728,156 732,945 22,971 - 22,971 24,367 - - - 630 1,894 - 1,894 2,753 13,396 - 13,396 1,631 34,834 - 34,834 19,916 4,282 - 4,282 2,228 7,632 - 7,632 6,841 436 - 436 3,512 - - - 5,831 40,038 - 40,038 50,960 7,526 - 7,526 5,889 23,514 - 23,514 15,315 12,126 - 12,126 1,857 11,781 - 11,781 25 125 - 125 40 2,500 - 2,500 2,500 23,358 - 23,358 - 1,310 - 1,310 - - - - 8,290 279 - 279 432 362 - 362 540 - - - 404 936,519 - 936,519 886,906 45,549 - - 45,549 - 8,162 - 900,818 - 900,818 908,980 45,549 - - 45,549 - 8,162 - 855,269 - 855,269 900,818 |
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Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School Balance sheet As at 31st August 2024
| Note Fixed assets Land and building Fixtures, f�ngs & equipment Total fixed assets Current assets Cash in hand and balance at bank Trade Debtors Total current assets Current liabilities Trade creditors/accruals Wages Due Other taxes and social security Creditors: amounts falling due within one year Total assets less current liabilities Interest free loan Total net assets The funds of the charity Balance at start of period Net (deficit)/profit Total unrestricted funds |
2024 £ 3,141,653 - 3,141,653 9,037 - 9,037 2,500 - 85,513 88,013 3,062,677 2,207,408 855,269 900,818 45,549 - 855,269 |
2023 £ 3,141,653 - 3,141,653 37,712 - 37,712 81,377 52,741 89,320 223,438 2,955,927 2,055,109 900,818 908,980 8,162 - 900,818 |
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Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School
Notes to the financial statements For the year ended 31st August 2024
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.
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Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School
Notes to the financial statements For the year ended 31st August 2024
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 63 (2023 - 54).
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).
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Docusign Envelope ID: 80D25BA6-94D8-4E2C-B5B5-738FEA8C54F7
Madani Girls' School
Notes to the financial statements For the year ended 31st August 2024
Note 5 - Capital commitments
The charity had no capital commitments as at 31 August 2024.
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
| Cost or valuation At the beginning of the year Additions Adjustment Disposals At end of the year Depreciation and impairments At beginning of the year Disposals Depreciation Impairment At end of the year Net book value At the beginning of the year At the end of the year |
Land & Building Fixtures, fittings & equipment Total £ £ £ 3,141,653 181,665 3,323,318 - - - - - - - - - 3,141,653 181,665 3,323,318 - 181,665 181,665 - - - - - - - - - - 181,665 181,665 3,141,653 - 3,141,653 3,141,653 - 3,141,653 |
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