**CHARITY REGISTRATION NUMBER: 1085713** ## **ALULBAYT FOUNDATION Unaudited Financial Statements 31 March 2022** ## **FAIRMAN DAVIS** Chartered accountants 3 Exhibition House Addison Bridge Place London W14 8XP ## **ALULBAYT FOUNDATION** ## **Financial Statements** ## **Year ended 31 March 2022** ||**Page**| |---|---| |Trustees' annual report|**1**| |Independent examiner's report to the trustees|**3**| |Statement of financial activities|**4**| |Statement of financial position|**5**| |Notes to the financial statements|**6**| ## **ALULBAYT FOUNDATION** ## **Trustees' Annual Report** ## **Year ended 31 March 2022** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2022. ## **Reference and administrative details** **Registered charity name** ALULBAYT FOUNDATION **Charity registration number** 1085713 **Principal office The trustees** Fadhil Mehdi Mr Mohsen Mousavi Mr Hamid Asmail **Independent examiner** Fairman Davis 3 Exhibition House Addison Bridge Place London W14 8XP ## **The trustees** ## **Structure, governance and management** ## **Governing Documents** The organisation was registered as charity on 21st March 2001 and is governed by its Trust Deed dated 19th March 2000. ## **Organisation Structure** Alulbayt Foundation has a Management Committee which meets quarterly and is responsible for the strategic direction and policy of the charity. ## **Risk Management** The Management Committee has conducted a review of the major risks to which the charity is exposed to and continues to monitor this on an ongoing basis. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety off volunteers, clients and visitors to the centre. The procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. ## **Objectives and activities** The charity's objective and its principal activity continue to be that of providing relief of poverty, sickness, distress and the advancement of education in particular amongst people who are of Islamic Faith. **- 1 -** ALULBAYT FOUNDATION Trusteès. Annual Report (co￿lnut&) Year ended 31 March 2022 Achi•v•m•nts •nd p•rfornianc• The Trustees consider that the perf0m￿nCe of Ihe chafity this year has been satisfaclory. Financial review Again51 the backdrop of limited resources the charity has continued lo plan or develop its services. Wi(h the aid of sound finanual management and the 5uppM ol both its staff and volunteer5, the charity has achieved 8 satislaclory outcome for the year, with sufficient resources lo continue its nomial activtties in the forthcoming years. Plans for futur• p•riods The charity intends to contsnue its a¢b"vrties in Pursuance of ts defined ofy'èctNes. The trustees. annual report was approved on 10 May 2022 and signed on behaKof t￿ board of Iruslees by.. M,HeuSavi Mr Mohsen Mwsal Trustee ## **ALULBAYT FOUNDATION** ## **Independent Examiner's Report to the Trustees of ALULBAYT FOUNDATION** ## **Year ended 31 March 2022** I report to the trustees on my examination of the financial statements of ALULBAYT FOUNDATION ('the charity') for the year ended 31 March 2022. ## **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 Char ities Act 2011 (‘the Act’). I report in respect of my examination of the charity's financial statements 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 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 the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. 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 charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or 3. the financial statements 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. Fairman Davis Independent Examiner 3 Exhibition House Addison Bridge Place London W14 8XP **- 3 -** ## **ALULBAYT FOUNDATION** ## **Statement of Financial Activities** ## **Year ended 31 March 2022** ||||**2022**||2021| |---|---|---|---|---|---| |||Unrestricted|Restricted||| |||funds|funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|**£**|£| |**Income and endowments**|||||| |Donations and legacies|**4**|208,801|191,705|**400,506**|398,074| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |**Total income**||208,801|191,705|**400,506**|398,074| |||================================|================================|================================|================================| |**Expenditure**|||||| |Expenditure on charitable activities|**5,6**|264,036|182,066|**446,102**|405,643| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |**Total expenditure**||264,036|182,066|**446,102**|405,643| |||================================|================================|================================|================================| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |**Net expenditure**||(55,235)|9,639|**(45,596)**|(7,569)| |||================================|================================|================================|================================| |Transfers between funds||337,055|(337,055)|**–**|–| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |**Net movement in funds**||281,820|(327,416)|**(45,596)**|(7,569)| |**Reconciliation of funds**|||||| |Total funds brought forward||14,899|334,151|**349,050**|356,619| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |**Total funds carried forward**||296,719|6,735|**303,454**|349,050| |||================================|================================|================================|================================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 6 to 13 form part of these financial statements.** **- 4 -** ALULBAYf FOUNDATION Statement of Financial Posltlon 31 March 2022 2022 2021 Not• Fixed assets Tangiblc fixed aojs 12 154,507 204.336 Current ass•ts Debtors Ca¥h at bank and in hand 13 9.925 143,317 4.524 145.516 153,242 150,040 Cr•ditors.' amounts falllng due withln on¢ year Not currgnt assèts 14 4.295 5,326 148.947 144.714 Total a55•ts léss eurr•nt liabilities 303.454 349.050 Not a$$eis 303.454 349.050 Fund5 Of th• charity Restricted funds UnTeslricted funds 6,73S 296,719 334,151 14,899 Totsl charlty funds 17 303.454 349,050 These financial ststÈmÈnts were approved by the tr*)ard of trustee5 and authofised fof issue on 10 May 2022. and are sKJned on behalf of the board by.. hAr hAoh$Èn MoJs8VI TTust86 Th• notss on pa9•$ 6 to 13 fomi part of th•8• flnan¢lal st•t•rn•ntS. ## **ALULBAYT FOUNDATION** ## **Notes to the Financial Statements** ## **Year ended 31 March 2022** ## **1. General information** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 75 Brondesbury Park, London, NW6 7AX. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. **- 6 -** ## **ALULBAYT FOUNDATION** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **3. Accounting policies** _**(continued)**_ ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It included 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 charity's constitutional and statutory requirements as well as costs linked to the strategic management of the charity. ## **Tangible assets** All fixed assets are initially recorded at cost. ## **Depreciation** Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: |Leasehold Property|-|10% straight line| |---|---|---| |Fixtures & Fittings|-|25% straight line| |Motor Vehicles|-|25% straight line| |Equipment|-|25% straight line| ## **Impairment of fixed assets** A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. **- 7 -** ## **ALULBAYT FOUNDATION** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **3. Accounting policies** _**(continued)**_ ## **Impairment of fixed assets** _**(continued)**_ For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. ## **Government grants** Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. ## **Financial instruments** A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. **- 8 -** ## **ALULBAYT FOUNDATION** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **3. Accounting policies** _**(continued)**_ ## **Financial instruments** _**(continued)**_ Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. ## **Defined contribution plans** Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. ## **4. Donations and legacies** ||Unrestricted|Restricted|**Total Funds**| |---|---|---|---| ||Funds|Funds|**2022**| ||£|£|**£**| |**Donations**|||| |Donations|179,181|191,705|**370,886**| |**Grants**|||| |Government grant income|29,620|–|**29,620**| ||--------------------------------|--------------------------------|--------------------------------| ||208,801|191,705|**400,506**| ||================================|================================|================================| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2021| ||£|£|£| |**Donations**|||| |Donations|163,322|176,797|340,119| |**Grants**|||| |Government grant income|57,955|–|57,955| ||--------------------------------|--------------------------------|--------------------------------| ||221,277|176,797|398,074| ||================================|================================|================================| **- 9 -** ## **ALULBAYT FOUNDATION** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **5. Expenditure on charitable activities by fund type** ||||Unrestricted|Restricted|**Total Funds**| |---|---|---|---|---|---| ||||Funds|Funds|**2022**| ||||£|£|**£**| ||Charitable activity||117,932|182,066|**299,998**| ||Support costs||146,104|–|**146,104**| ||||--------------------------------|--------------------------------|--------------------------------| ||||264,036|182,066|**446,102**| ||||================================|================================|================================| ||||Unrestricted|Restricted|Total Funds| ||||Funds|Funds|2021| ||||£|£|£| ||Charitable activity||66,248|188,848|255,095| ||Support costs||150,547|–|150,548| ||||--------------------------------|--------------------------------|--------------------------------| ||||216,795|188,848|405,643| ||||================================|================================|================================| |**6.**|**Expenditure on charitable activities by activity type**||||| |||Activities|||| |||undertaken|
Support|**Total funds**|Total fund| |||directly|
costs|**2022**|2021| |||£|£|**£**|£| ||Charitable activity|299,998|
142,819|**442,817**|402,767| ||Governance costs|–|3,285|**3,285**|2,876| |||--------------------------------|--------------------------------|--------------------------------|--------------------------------| |||299,998|
146,104|**446,102**|405,643| |||================================|================================|================================|================================| |**7.**|**Analysis of support costs**||||| ||||Analysis of||| ||||support costs||| ||||activity 1|**Total 2022**|Total 2021| ||||£|**£**|£| ||Staff costs||78,343|**78,343**|78,703| ||Premises||58,567|**58,567**|61,235| ||General office||5,909|**5,909**|7,734| ||Governance costs||3,285|**3,285**|2,875| ||||--------------------------------|--------------------------------|--------------------------------| ||||146,104|**146,104**|150,547| ||||================================|================================|================================| |**8.**|**Net expenditure**||||| ||Net expenditure is stated after charging/(crediting):||||| |||||**2022**|2021| |||||**£**|£| ||Depreciation of tangible fixed assets|||**49,829**|49,829| |||||============================|============================| **- 10 -** ## **ALULBAYT FOUNDATION** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **9. Independent examination fees** Fees payable to the independent examiner for: Independent examination of the financial statements **----- Start of picture text -----**
2022 2021
£ £
–
1,740
============== =======================
**----- End of picture text -----**
## **10. Staff costs** The average head count of employees during the year was 5 (2021: 4). No employee received employee benefits of more than £60,000 during the year (2021: Nil). ## **11. Trustee remuneration and expenses** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. ## **12. Tangible fixed assets** ||Land and|Fixtures and|Motor||| |---|---|---|---|---|---| ||buildings|fittings|vehicles|Equipment|**Total**| ||£|£|£|£|**£**| |**Cost**|||||| |**At 1 April 2021 and**|||||| |**31 March 2022**|489,877|3,948|5,900|19,227|**518,952**| ||================================|=======================|=======================|============================|================================| |**Depreciation**|||||| |At 1 April 2021|288,067|3,946|5,899|16,704|**314,616**| |Charge for the year|48,988|–|–|841|**49,829**| ||--------------------------------|-----------------------|-----------------------|----------------------------|--------------------------------| |**At 31 March 2022**|337,055|3,946|5,899|17,545|**364,445**| ||================================|=======================|=======================|============================|================================| |**Carrying amount**|||||| |**At 31 March 2022**|152,822|2|1|1,682|**154,507**| ||================================|=======================|=======================|============================|================================| |At 31 March 2021|201,810|2|1|2,523|204,336| ||================================|=======================|=======================|============================|================================| |**Debtors**|||||| |||||**2022**|2021| |||||**£**|£| |Other debtors||||**9,925**|4,524| |||||=======================|=======================| |**Creditors:** **amounts falling due within**||**one year**|||| |||||**2022**|2021| |||||**£**|£| |Accruals and deferred income||||**1,860**|1,620| |Social security and other taxes||||**2,435**|3,706| |||||-----------------------|-----------------------| |||||**4,295**|5,326| |||||=======================|=======================| ## **13. Debtors** ## **14. Creditors: amounts falling due within one year** **- 11 -** ## **ALULBAYT FOUNDATION** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **15. Pensions and other post retirement benefits** ## **Defined contribution plans** The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,519 (2021: £1,519). ## **16. Government grants** The amounts recognised in the financial statements for government grants are as follows: |||||**2022**|2021|2021| |---|---|---|---|---|---|---| |||||**£**|£|| |Recognised in income from donations and||legacies:||||| |Government grants income||||**29,620**|57,955|| |||||============================|============================|| |**Analysis of charitable funds**||||||| |**Unrestricted funds**||||||| |||||||**At**| ||At||||**31 March**|**20**| ||1 April 2021|Income|Expenditure|Transfers||**22**| ||£|£|£|£|**£**|| |General funds|14,899|208,801|(264,036)|337,055|**296,719**|| ||============================|================================|================================|================================|================================|| |||||||At| ||At||||31 March|20| ||1 April 2020|Income|Expenditure|Transfers||21| ||£|£|£|£|£|| |General funds|10,417|221,277|(216,795)|–|14,899|| ||============================|================================|================================|==============|============================|| |**Restricted funds**||||||| |||||||**At**| ||At||||**31 March**|**20**| ||1 April 2021|Income|Expenditure|Transfers||**22**| ||£|£|£|£|**£**|| |Restricted Funds|334,151|191,705|(182,066)|(337,055)|
**6,735**|| ||================================|================================|================================|================================|=======================|| |||||||At| ||At||||31 March|20| ||1 April 2020|Income|Expenditure|Transfers||21| ||£|£|£|£|£|| |Restricted Funds|346,202|176,797|(188,848)|–|334,151|| ||================================|================================|================================|==============|================================|| ## **17. Analysis of charitable funds** **- 12 -** ## **ALULBAYT FOUNDATION** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 March 2022** ## **18. Analysis of net assets between funds** ||Unrestricted|Restricted|**Total Funds**| |---|---|---|---| ||Funds|Funds|**2022**| ||£|£|**£**| |Tangible fixed assets|154,507|–|**154,507**| |Current assets|146,507|6,735|**153,242**| |Creditors less than 1 year|(4,295)|–|**(4,295)**| ||--------------------------------|-----------------------|--------------------------------| |**Net assets**|296,719|6,735|**303,454**| ||================================|=======================|================================| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2021| ||£|£|£| |Tangible fixed assets|–|204,336|204,336| |Current assets|20,225|129,815|150,040| |Creditors less than 1 year|(5,326)|–|(5,326)| ||----------------------------|--------------------------------|--------------------------------| |**Net assets**|14,899|334,151|349,050| ||============================|================================|================================| **- 13 -**