CHARifY REGISTRATION NUMBER: 1085713 ALULBAYf FOUNDATION Unaudited Financial Statements 31 March 2023 FAIRMAN DAVIS Chartered accountants 3 Exhibition House Addison Bridge Place London W14 8XP
ALULBAYT FOUNDATION Financial Statements Year ended 31 March 2023 Trustees. annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements Page
ALULBAYf FOUNDATION Trustees. Annual Report Year ended 31 March 2023 The trustees present their report anL1 the unaudited financial statements olthe charity for the yearended 31 March 2023. Reference and admlnistrative detalls Registered charity name Charity reglstratlon number Princlpal office ALUL8AYf FOUNDATION 1085713 75 Brondesbury Patk London NW6 7AX The trustees Mr Fadhil Mehdi Mr Mohsen Mousavi Mr Hamid Asmail Independent examiner Faimlan Davis 3 Exhibition House Addison Bridge Place London W14 8XP Stru¢tur•. governan¢e and management Governing Documents The organisalion was registered as charity on 21st March 2001 and is govemed by ils Trust Deed dated 19th March 2000. Organisatlon Structure Alulbayt Foundation has a Management Committee which meets quartedy and is responsible for the slratggic direction and policy of the charity. Risk Management The Management Committee has conducted a review ofthe major risks lo which the charity is exposed to and continues to monitor this on an ongoing basis. Where appropriate. systems or procedures have been established lo mitigale the risks the charity faces. Intemal control risks are minimised by the implemenlalion of prOdureS for aulhorisation ol all transactions and projects. Procedures are In place lo ensure compliance with health and safety off volunteers. clients and wsilors to the ¢enlre. The procedures are periodically reviewed lo ensure that they continue to meel the needs of the charity. Obje¢tlves and activlties The charity's objecb.ve and ils principal a¢tNty continue lo be Ih8t of provtding reliefof poverty, sickness. distress 8nd the advancement of education in particular amongst people who a of151amic Faith.
ALULBAYf FOUNDATION Trustees. Annual Report (Contindj Year ended 31 March 2023 Ach5evements and perforniance The Trustees consider that the perfomiance of the chanty thrs year has been satislactory. Flnan¢ial review Against the backdrop of limiled resources the charity has continued lo plan or develop its services. With Ihe aid of sound financial management and the support of both ils staff and volunteers. the charity has achieved a satisfactory outcome for Ihe year, SUffient resources lo continue rls nomi81 activities in the forthcoming years. Plans for future periods The charity intends to continue its activities in pursuance of its defined obieclNes. The trustees. annual report was approved on 18 Seplember 2023 and signed on behalf of the board of trustees by.. r Mohsen Mousavi Trustee
ALULBAYT FOUNDATION Independent Examiner's Report to the Trustees of ALULBAYT FOUNDATION Year ended 31 March 2023 I report to the trustees on my examination ofthe financial stslements OIALULBAYT FOUNDATION ('Ihe charity'} for the year ended 31 March 2023. Responsibilhios and basi$ of report As the Iruslees of the charrty you are responsible for the preparation of the financial statements in accordance with the requirements of the Charrties Act 2011 ('Ihe Act'}. I report in respect of my examination of the charity's financial stalemenls carried out under section 145 of the 2011 Act and in carrying out my examinalron I have loifowed 811 the applicable Directions given by the Charity Commission under section 145{5llb) of the Act. Independent examinerfs 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 A. l eonfifm that l am qualifd to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales IICAEW). which is one of the listed bodies. I have completed my examination. l nfiTrn that no material matters have come to my attention in connection with the examinalron giving me cause io believe that in any material respect.. accounting records We not kept in respe of the charity as required by section 130 of the Act., or the financial statements do not accord with those records.. or the financial statements do nol Comply with the applrcable qUIrementS conceming the form and content of accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than any requFremenl that the accounts give a Irue and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come acxoss no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Faiman Davis Independent Examiner 3 Exhibition House Addison Bridge Place London W14 8XP
ALULBAYT FOUNDATION Statement of Flnanclal Activlties Year ended 31 March 2023 2023 Restricted ftjnds Total funds Unrestricted nds 2022 Income and endowménts Donations and legacies Total Income Expenditure Expenditu on charitable activities Total expendlture Not• Total funds 150.784 272.166 422.950 422.950 400.506 150.784 272,166 400.506 238.919 238,919 278.901 278.901 517,820 517.820 446.102 446.102 Net expenditure and net movement ITr fund$ 188.135) (6.735) 194.870) {45,5961 Reconciliation of fvTrds Totsl funds brought forward Total funds carried forward 296,719 208.584 6.735 303.454 208,584 The statement of financial activities includes all gains and k)sses recognised in the year. All income and expenditure derFve from continuing aclivilies. 349,050 303,454 The notes on pa9ts 6 to 13 fo part of these financial staternents.
ALULBAYT FOUNDATION Statement of Financial Positlon 31 March 2023 2023 Fixed assets Tangible fixed assets Current assots Debtors Cash at bank and in hand Note 2022 12 106.040 154,507 13 32.957 74.555 9,925 143.317 153,242 107,512 Creditors: amounts falling due wilhin one year Net current assets Total assets less Current liabilities Net assets 14 4,968 4.295 102,544 208,$84 208,584 148,947 303,454 303,454 Funds of the charity Reslri¢led funds Unrestricted funds Total charity fund$ 208.584 6,735 296,719 208.584 303,454 These financial statements were approved by the board of trustees and authorised for issue on 18 September 2023. and are signed on behalf of the board by". 17 Mr Mohsen Mousavi Trustee The note5 011 Pages 6 to 13 forni part of these fina031 stat•ments.
ALULBAYT FOUNDATION Notes to the Financlal Statements Year ended 31 March 2023 General inforniation The charity is a public benefrt entity and a regrslered charity in England and Wales and is unincorporated. The address of the principal office is 75 Brondesbury Patk, London, NW6 7AX. Siatement ot compllance These financial staternents have been prepared in compliance with FRS 102. 'The Financial ReportJ"ng Standard applicable in the UK and the Republic of Ireland,, the Slalemenl of Recommended Practi applicable lo charities preparing Iheir accounts in accordance with the Financial Reporting Standard applrcable in the UK and Republic of Ireland {FRS 1021 (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policles Basls ol preparation The financial slalements have been prepared on the historical cost basis, 8s modified by the revaluation ol certain financial assets ar liabilrties and investment properties measured al fair value through income or expenditure. The financial statements a prepared in sterling. which i% the functional currency of the entity. Going conc•rn There are no material uncertainties about the charity's abilty to continue. Fund accounting Unrestricted funds are available for use al the discretion of tt)e trustees to further any of the charity's purposes. Designated funds are unrestricted lunds earmarked by the trustees for particular future proied or commitment. Reslrieled fvnds are subjected lo reslriclions on their expenditure declared by the donoror through the terrns of an appeal. and fall into one oftwo sutsclasses.. restricted income lunds or endowment funds.
ALULBAYT FOUNDATION Notes to the Financial Statements {WltinuedJ Year ended 31 March 2023 Accounling poll¢ies {¢onthiu•dJ Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed lo the charity- it is probabje that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The followng specific policies are applied lo particular categories of income= income Irom donations or grants is recognise(J when there is evKlenoe of entiuemenl to the gift. receipt is probable and its amount can be measured reliably. legacy income ts recognised when receipt is probab aTrJ entiuement is established. income from donated goods is measured al the fair value of the goods unless this is impractical lo measure reliabty, in which case the value is derived from the cost lo U)e donor or the eslimaled resale value. Donated faciltties and servi$ are recognised in the accounts when received rf the value can be reliabty measured. No amounts are included for the contribution of general volunteers. income from contracts for the suppty of services rs recognised with the delivery of the contracted servrce_ This Ts classrfied as unrestricted funds unless there is a conlraclual requ1Ment for it to be spent on a p8rti(JJlar purpose and relumed if unspent, in which case it may be regarded as restricted. Resources expended Charitsble expenditure comprises those costs incurred by the charity in the delivery of its activities and ServIS for its beneficiaries. It included both costs that can be allocated directly to such activities and those Costs of an indirect nature necessary lo support them. Govemance costs include those Costs associated with meeting the charity's constilub'onal and statutory requirements as well as costs linked to the strategic management of the charrty. Tangible assets All fixed assets are initlally recorded at cosl. Depre¢lation Depreciation is caiculaled so as to write off the cost or valualron of an asset. less its residual value, over the useful enOMiC lrfe of that asset as lollows-. Leasehold Propety Fixtures & Fittings Motor Vehicles Equiprnenl 10% straight line 25% straight line 250/0 Straight line 25Q/o Straight line Impairn)ent ol flxed assets A revi&w for indicators of impaimient is carried out at each reporting date. wrth the recoverable amount being eslirnated where such indtcators exrst. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingty. Prior impaim)enls are also reviewed for possible versal at each repo"n9 date.
ALULBAYT FOUNDATION Notes to the Financlal Statements {¢Ontinu8dJ Year ended 31 March 2023 Accounting policies (¢o#W Impairnient of fixed assets {¢oniinuedJ For the purposes of impaimienl testing. when il is llot possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of Ihe eash-generaling unil to which the asset belongs. The cash4Jenerating unil is the smallest identifiable group of assets that includes the asset and generates cash infk)ws that largety independent of the cash inflows from other assets or groups of assets. For impaimienl testing of good%wll, the g(M)dwtll acquired rn a business combination is, from the acquisition dale, allocated lo each of the cash-generaling units that are expected lo benefit from the synergies of the combination. IrreSlVe of whether other assets or liabilities of the charity are assigned lo those units. Government grants Govemrnent grants are recc*3nised al the fair value of the asset received or re1Vable. Grants are not recognised until Ihere is reasonable assurance that the charrty will compty with the conditions attaching lo them and Ihe grants will be received. Where the grant does not impose specrfied futu performance-related conditions on the recipient, il is recognised in income when the grant proceeds are received or receivable. Wheie the grant does impose specified future perfomiance-relaled condit10115 on the recipient. il is recognised in income only when the performance•relaled condilions have been met. Where grants received are prior lo satisfying the revenue cognItion criteria, they are recognised as a liability. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty lo the contractual provisions ol the instrument. Basic financial instruments are initially recognised al the amount receivable or payable including any r&laled transaction costs. Current assets and current liabilrties are subsequenlty measured al 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 publiciy traded or their fair value can otherwise be measured reliably, the investment is subsequenlty measured al fair value with changes in fair value recognise¢J in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial Instruments. including derivativ@s, are initially recLynised al fair value, unless payment for an asset is deferred beyond nomial business lem)s or financed al 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 al a market rate of interest for a similar debt instrument. Other finallcial instruments are subsequenty measured 81 fair value, with any changes recognised in the statement of finanal acltvrties, with the exception of hedging instNments in a desrgnated hedging relationship.
ALULBAYf FOUNDATION Notes to the Financial Statements {¢oniin¢MdJ Year ended 31 March 2023 Accounting poll¢ies fcontlnuedj Financial instruments (¢oiilinueO) Finartcial assets that are measured at cost or amortised cost are reviewed for objective evtdence of impaimient at the end of each reporting date. If there is objective evidence of impairment, an impairmenl loss is recognised under the appropriate heading in the statement of financial activities in which the inttial gain was recognised. For all equity instruments regardless of signrficance, and other financial assets Ihal are individually significant. these are assessed indrvidually for impaimienl. Other financial assets are either assessed individually or grouped on the basis of similar credil risk characteristics. Any reversals of impairment are recognised IMrrdiatefy. lo 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 impaimienl not previously been recognised. Defined contrfbution 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 Ihe extent that the prepayment will lead to a reduCtn in future payments or a rash lund. When ContributnS are not expected lo be setded wholty within 12 months of the end of the porting (Jale in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is th3nISed as an expense in the period in whrch il arises. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Donations 129.014 272.166 401.180 Grants Govemment grant income 21.770 21.770 150.784 272,166 422,950 Unrestricted Funds Restricted Totsl Funds Funds 2022 Donatlons Donations 179.181 191.705 370,886 Grants Govemment grant income 29.620 29,620 208,801 191,705 400,506
ALULBAYT FOUNDATION Notes to the Financlal Statements (¢ortkntsedJ Year ended 31 Mah 2023 Exp•nditur• on ¢harrtable a¢tivAties by fund type Unrestricted Funds Reslricled Total Funds Funds 2023 Charitable activity Support costs 76,703 162,216 238,919 278,901 355.604 162.216 517.820 278,901 Unreslricled Funds Restn'cted Total Funds Funds 2022 Charitable aclivrty Support ei)sts 117.932 146,104 182,066 299,998 146.104 264.036 182.066 446,102 Expenditure on charitable actlvitles by a¢tlvity type Activities undertaken direclty Support Tolal funds costs 2023 Total fund 2022 Charitsble activity Governance costs 355,604 159,989 2,227 515,593 2.227 442.817 3,285 355.604 162.216 517,820 446,102 ATralysls of support costs Analysis of support costs activity 1 Total 2023 Total 2022 86,772 86,772 66.408 66.408 6.810 6,810 1.920 1.920 Staff costs Premises General office Govemance costs 78.343 58,567 5,909 3.285 161.910 161,910 146,104 Net expendlture Nel expenditure is stated after charg1{¢rediting).' 2023 2022 Depreciation of tsngible fixed assets 50.283 49,829 10
ALULBAYT FOUNDATION Notes to the Financlal Statements (onknued) Year ended 31 March 2023 Independent examlnatlon fees 2023 2022 Fees payable lo the independent examiner for.. Independent examinaDon of the finanual stalements 1.920 1,860 10. Staff costs The lolal staff costs and employee benefits for the repIng period are anatysed as follows.. 2023 2022 Wages and salaries Social security costs Employei contributions to pensron plans 84,871 490 1.410 75.750 1,074 1.519 86.771 78,343 The average head count of employees during the year was 5 (2022." 5}. No employee reiVed employee benefits of Ire than £60.000 during the year12022.. Nill. 11. Trustee r•muneratlon and exponses No remuneration or other beneffts from employment with the charity or a related entity were received by the trustees. 12. Tanglblt fixed assets Land and Fixlures and buikjings frtb"n95 Motor vehicles Equipment Total Cost At 1 April 2022 Additions 489.877 19,227 1,816 518,952 1,816 At 31 March 2023 Depreciation Al 7 April 2022 Charge for the year At 31 March 2023 Carying amount At 31 March 2023 Al 31 March 2022 489.877 5.900 21.043 520,768 337.055 48,988 3,946 5.899 17,545 1,295 364,445 50,283 386.043 3,946 5,899 18.840 414,728 103.834 2.203 106.040 154.507 152.822 1,682 13. Debtors 2023 2022 Other debtors 32.957 9,925 11
ALULBAYf FOUNDATION Notes to the Financlal Statements Year ended 31 March 2023 14. Creditors: amount$ falllng due withln one year 2023 2022 Accwals and deferred rncome Social security and other taxes Other creditors 1,920 2,689 359 1,860 2.435 4.968 4,295 15. Pen$lons and other post retir•m8nt benefits Deflned contribution plans The amount recognised in income or expenditure as an expense in rèlation to defined contribution plans was £1,41012022.- £1.519). 16. Govemment grants The amounts recTrJnised in the financial slalements for government grants a as follows.. 2023 2022 Recognised in income from donations and legacres.. Government grants income 21.770 29,620 17. Analysis of charllable funds UTrrestricted funds At 1 April 2022 At 31 March 20 23 Income ExpendTture Transfers General funds 296.719 150,784 {238.9191 208,$84 At 1 April 2021 Al 31 March 20 22 Income Expendilure 208.801 Transfers General fvnds 14.899 (264.036} 337.055 296.719 Reslricted funds At 31 March 20 23 1 April 2022 Income Expenditure Transfers Restricted Funds 6.735 272.166 (278.901) At 1 April 2021 Al 31 March 20 22 Income Expendf(ure Transfers Restricted Funds 334,151 191.705 (182.066) (337,055) 6.735 12
ALULBAYT FOUNDATION Notes to the Flnancial Statements (conbnu8dJ Year ended 31 March 2023 18. Analysis of net assets botweon funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fLxed assets Current assets Creditors less than 1 year Net assets 106.040 107.512 14.9681 208.584 106.040 107,512 {4,9681 208,584 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 154,507 146,507 (4,295) 296.719 154,507 153.242 {4,295) 303.454 6.735 6.735 13