Registered Charity number. 1086069 FOLESHILL ISLAMIC EDUCATION CENTRE TRUST REPORT AND ACCOUNTS Year Ended 31st Au ust 2023
FOLESHILL ISLAMIC EDUCATION CENTRE TRUST FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023 CONTENTS Administrative Information. 2to4 Trustees annual report Independent Examiners Report Statement Of Financial Activities. Balance Sheet. 8 to 10 Notes to the accounts
FOLESHILL ISLAMIC EDUCATION CENTRE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2023 TRUSTEES: Mr J Iqbal M K Anwar M N Ashique M Zahid ADDRESS: 643 Foleshill Road Coventry CV6 5JQ BANKERS: Barclys Bank plc (1)
FOLESHILL ISLAMIC EDUCATION CENTRE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2023 The trustees present their 2023 annual report and account. 1. CONSTITUTION Foleshill Islamic Education Trust is constituted under a trust deed dated 14 March 2001. The trust was registered as a charity on 6 April 2001 and it's registration number is 1086069. The Trustees have legal responsibility for the operation of the Trust, and a management committee which Includes one trustee is responsible for the day to day affairs of the charity 2. OBJECTS The objects of the charity as set out in the constitution is as set out below.. 1) The advanGement of the Islamic religion and edu(Aalion. 2) To promote for the benefit of the inhabitants of Foleshill and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the Interests of social welfare and with the object of Improving the condition of life of the said inhabitants. 3) Any charitable purposes for general benefit of the people living in the United Kingdom and In particular people living in and around Coventry, as the trustees shall from time to time determine. 3. ACTIVITIES AND FUTURE PLANS The trustees review our objectives and activities to ensure they continue to reflect our objects. The trustees in the current year have considered the Charity Commission's general guidance on public benefit and are satisfied the charity continues to provide public benefit. The charity continues with it primary objectives which are the advancement of Islamic Education, the provision of facilities for recreation and other leisure facilities. {2)
COVENTRY EDUCATION AND WELFARE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2023 4. FINANCIAL REVIEW The principal income sources were sludeiit fees, and publlc doiialions. The nei defecrt for tne year amounted to L730 and nel assets at 31 August 2023 were £250,602 5. RISK MANAGEMENT The Trust Is responsible for tlie overseeing of the rlsks faced by the charity. Detailed onsidcrations of ri8k are delegated to the trustees of the charity. Risks are identified. assessed and controls esiaoiished throughout the year. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed but is reasonable in relation lo the current size of Ihe charity. Appropriate Criminal Records Bureau {CRB> check3, SUPPOrted by regular reviews are made of all staff and volunle6r8 who work with children. IKlso the trustees keep under the review the finances of tlie LlidKs1y. (3)
FOLESHILL ISLAMIC EDUCATION CENTRE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2023 S. STATEMENT OF TRUSTEES. RESPONSIBILITIES Charity law require the trustees to prepare financial statements for each flnanclal year which show a true and fair view of the state of affairs of the charity and Its financial activities for the period. In preparing those financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently, b) rnake judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements, and d) prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the charity will continue In operational existence. The trustees are responsible for keeping proper accounting records and disclose with reasonable accuracy at any time financial position of the charity and to enable then to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees on 31 August 2025 and signed on their behalf: Ffl ZAJ (Trustee) M#414MEp Z4ia (4)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FOLESHILL ISLAMIC EDUCATION CENTRE TRUST I report on the acGounts of the Chanty on pages 6 to 10 for the year ended 31 August 2023 which have been prepared in accordance with the Charities Act 2011 and with the Financial Reporting Standard (FRS102), adapted to meet the needs of unincorporated organisations. as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, (The SORP), under the historical cost convention and the accounling policies set out on page 8. Re5 ective Res onsibilities of Trustee5 and Examiner As described on page 4, the Charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit Is not required for this year under s144 (2) of the Charities Act 2011 and that an independent examination Is needed. l am qualified to undertake the examination by being qualified member of the Association of Chartered Certified Accountants. It is my responsilbility to.. a) examine the accounts under section 145 of the 2011 Act., b) to follow the procedures laid down In the General Directions given by the Charity Commi55ion under section 145{5)(b) of the 2011 Act, and, c) to state whether particular matters have come to my attention. Basis of inde endent examiner's re ort. My examination was Garried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seekiiiy expldiiations from you as trustee&1 LoiILeiniiiy dlly such niatters. The procedures undertaken do not provide £111 tlie evidence that would be required 111 an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out In the statement below Inde endent examiner's statement In connection with my examination, no matter has come to my attention: 1) which gives me reasonable cause to believe that. in any material respect, the requirements". to keep accounting records in accordance with section 130 of the 2011 Act, and to prepare accounts which accord with the accounting records and comply wilh the accounting requirements of the 2011 Act have not been met, or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. MR ZUBAIR MOHAMMED (FCCA) Date. 31 August 2025
FOLESHILL ISLAMIC EDUCATION CENTRE TRUST Statement of Financial Activities for the ear to 31st Au ust 2023 Restrictod Unrestrlcted Income funds funds Year Ended 311812023 Year Ended 311812022 Note Incoming resources Income resources from charitable activities 18,295 10,290 18,295 10,290 14,257 4,285 Income resources from generating funds 28,585 28,685 18,542 Re8ources expended Charitable activities 29,315 29,315 24,759 29,315 29,315 24,759 Nct incomlng/(outgolng) r•sourcos before transfers {730) (730) (6,217) Total funds brought forward 251,332 251,332 257,549 Tot81 funds carried forward 250,602 250,602 251.332 (6)
FOLESHILL ISLAMIC EDUCATION CENTRE TRUST Balance Sheet As At 31st Au ust 2023 Note 3110812023 3110812022 Fixed Assets Freehold Property 250,000 250,000 250.000 250,000 Current Assets Barclays Bank 602 1,332 602 1,332 602 1.332 Net Assetsl liabilities 250,602 251,332 resented B Unrestricted Income Funds 250,602 251,332 250,602 251.332 (7)
FOLESHILL ISLAMIC EDUCATION CENTRE TRUST Notes to the Accounts for the Year to 31st Au ust 2023 1. Accounting Pollcie5 The financial statements are 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 Charities Act 2011. Exemption has been taken from preparing a cash flow statement under 'Section 7 Statement of Cash Flows, as permitted by FRS 102 on the grounds that the charity qualifies as a small entity. (a) Voluntary income Is received by way of donations and gifts and is Included In full In the Statement of Financial Activities when received. Other Income Is accounted for on an accrual basis as far as it is prudent to do so. The value of services provided by volunteers has not been included. (b) Students fees are inGluded in the Statement of Financlal Activities (SOFA) on accrual basis. (c) Resources expended are recogfiised in the period in which they are incurred. Resources expended include attributable VAT, which caiiiiot be recovered. Since there are no restricted incoming resources the charity trustees are free to spend the funds as they deem fit in the furtherance of the charity's objectives. (d) As a registered charity the charity is generally exempt from Income and Capital Gains Tax, but not from VAT. Irrecoverable VAT is included in the cost of those Items to which it relates. (e) Debtors and creditors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (O Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a resLiIt of a past cvcnt, It is probablc that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. (g) Fixed Assets Fraehold propety is stated at historical valuation. No depreciation has been provided as the useful life ol the bulldlng Is greatly In excess ol flty years. (g) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and Ilie expected level of income and expenditure for 12 months from authorising these financial staleineiits. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
FOLESHILL ISLAMIC ED TION CENTRE TRUST Notes to the Accounts for the Year to 31st Au ust 2023 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Unrestricted funds Restricled Income fund3 Ygar Ended 311812023 Year Endgd 311812022 Student Fees 18,295 18.295 14,257 18,295 18,295 14,257 INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS Unrestricted fund8 Restricted income funds Yvar Ewlded 311812023 Year Ended 311812022 Donations 10,290 10.290 4,285 10,290 Unrestricted lund$ Restricted Incom• fund$ Year Ended Year Ended 311812023 311812022 Saloncs and Wagcs Rates Light and heat Repaifs Books and teaching materials 17,130 549 7,739 17,130 549 7,739 15,525 467 6,215 1.078 674 2.032 2,032 29,315 29,315 24.759 (9)
FOLESHILL ISLAMIC EDUCATION CENTRE TRUST Notes to the Accounts for the Year to 31st Au ust 2023 FIXED A55ET5 Freehold Building Valuation At 31 August 2022 & 31 August 2023 250,000 UNRESTRICTEO INCOME FUNDS: Balanc8 at 1 September 2022 Balance at 31 August 2023 Incoming ResourGes Outgoing Resources General funds 251.332 28,585 250,602 (10)