**REGISTERED CHARITY NUMBER: 1091881**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 May 2021**
## **for**
## **The Dakri Charitable Trust**
**The Dakri Charitable Trust**
**Contents of the Financial Statements for the Year Ended 31 May 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
|**Detailed Statement of Financial Activities**||11||
**The Dakri Charitable Trust**
## **Report of the Trustees for the Year Ended 31 May 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 May 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are the relief of poverty and sickness, the advancement of education, and the advancement of the Islamic religion in the United Kingdom and in any other geographical area of the world.
The trustees have had due regard to guidance published by the Charity Commission on public benefit.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity's activity is the provision of grant funding to causes that further it's charitable objects.
During the year, the charity was able to provide £70,600 of grant funding.
## **FINANCIAL REVIEW**
## **Financial position**
During the year under review, the Trust received donation income of £4,800 and generated investment income of £95,599. The Trust expended £70,600 on the furtherance of its charitable objectives.
The Trust's net assets as 31 May 2021 were £598,999 compared to £587,735 at the start of the year.
## **Reserves policy**
The reserves policy of the charity is to maintain unrestricted funds at a level sufficient to cover upcoming management, administration and support costs and to respond to emergency applications for donations which arise from time to time.
The trustees believe the reserves held at the year end, excluding the value held in fixed assets, is within the range described above.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Dakri Charitable Trust is constituted under a trust deed dated 1 June 2001 as amended by supplemental deed dated 10 March 2002. It's registered charity number is 1091881.
The Trust seeks to ensure that its trustees have the appropriate mix of skills to guide the work of the Trust and is continuously seeking ways to put in place succession arrangements for new trustees.
All new trustees are inducted to ensure that they understand their role and responsibilities as trustees.
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1091881
## **Principal address**
Unit 7c Earls Way Churchill Road Industrial Estate Thurmaston Leicester LE4 8DL
Page 1
**The Dakri Charitable Trust**
**Report of the Trustees for the Year Ended 31 May 2021**
## **Trustees**
I Y Dakri M I Dakri I Adam M Dakri
## **Independent Examiner**
N Bathia, FCA torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
## **Solicitors**
Shakespeares Martineau LLP 2 Colton Square Leicester LE1 1QH
## **Bankers**
Lloyds Bank 7 High Street Leicester Leicestershire LE1 9FS
## **INVESTMENT PROPERTY**
I Y Dakri, M I Dakri and I Adam hold title to the Investment Property on behalf of the charity.
Approved by order of the board of trustees on 17 March 2022 and signed on its behalf by:
I Y Dakri - Trustee
Page 2
**Independent Examiner's Report to the Trustees of The Dakri Charitable Trust**
## **Independent examiner's report to the trustees of The Dakri Charitable Trust**
I report to the charity trustees on my examination of the accounts of The Dakri Charitable Trust (the Trust) for the year ended 31 May 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 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.
N Bathia, FCA torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
17 March 2022
Page 3
**The Dakri Charitable Trust**
## **Statement of Financial Activities**
## **for the Year Ended 31 May 2021**
|31.5.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
4,800
Investment income
2
95,599
**Total**
100,399
**EXPENDITURE ON**
Raising funds
3
17,551
**Charitable activities**
Grant activities
71,584
**Total**
89,135
**NET INCOME**
11,264
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
587,735
**TOTAL FUNDS CARRIED FORWARD**
598,999|31.5.20
Total
funds
£
6,800
85,602|
|---|---|
||92,402
14,969
75,184|
||90,153|
||2,249
585,486|
||587,735|
The notes form part of these financial statements
Page 4
**The Dakri Charitable Trust**
## **Balance Sheet**
## **31 May 2021**
|Notes
**FIXED ASSETS**
Investment property
8
**CURRENT ASSETS**
Debtors
9
Prepayments and accrued income
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|31.5.21
Unrestricted
fund
£
540,000
25,502
7,239
42,488
75,229
(16,230)
58,999
598,999
598,999
598,999
598,999|31.5.20
Total
funds
£
540,000
36,667
6,744
25,264
68,675
(20,940)
47,735
587,735
587,735
587,735
587,735|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 17 March 2022 and were signed on its behalf by:
I Y Dakri - Trustee
The notes form part of these financial statements
Page 5
**The Dakri Charitable Trust**
## **Notes to the Financial Statements for the Year Ended 31 May 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant note(s) to the accounts.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Debtors**
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective rate of interest method, less any impairment.
## **Creditors**
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
## **Going concern**
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.
Page 6
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **2. INVESTMENT INCOME**
|Rents receivable
**3.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
Support costs
**4.**
**GRANTS PAYABLE**
Grant activities
The total grants paid to institutions during the year was as follows:
Malawi Relief Fund UK
Tanzimul Masjid
Al Kawther Trust
Valli Trust
Madhepur Education Centre Welfare Trust
Education in Action
Bukhari
Sidat Bangla Charity
Masjid Usman
HYD
Mohammed Rafi Foundation
Iqra Aid Trust
Food Foundation
Madani Education Centre
Yacoub Char
Great Ormand St Hospital
Bachchoka Ghar Naswadi
Guide Dogs
Other
Muslim Hands
Macmillan
Stroke Association
Water Aid
Marie Curie
Children's society
DUKT
Tafseer Raheemi
Orbis
Anjumin
Rahma Mercy
Imdaad Muslimeen
Mencap|31.5.21
£
95,599
31.5.21
£
16,568
983
17,551
31.5.21
£
70,600
31.5.21
£
18,000
11,000
6,400
6,250
4,000
3,900
2,500
1,500
1,000
2,000
600
500
450
300
300
250
150
150
1,950
-
-
-
-
-
-
-
-
-
-
-
-
-
61,200|31.5.20
£
85,602|
|---|---|---|
|||31.5.20
£
13,169
-|
|||13,169|
|||31.5.20
£
75,057|
|||31.5.20
£
16,800
5,000
-
4,000
15,200
1,500
-
4,000
-
2,000
-
-
-
500
-
750
250
250
2,100
220
250
250
250
300
350
2,500
500
600
750
2,400
3,000
250|
|||63,970|
Page 7
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **4. GRANTS PAYABLE - continued**
Grants payable to individuals amount to £9,400 (2020: £11,087).
## **5. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
|Governance
Finance
costs
£
£
Investment management costs
83
900
Grant activities
84
900
167
1,800|Totals
£
983
984|
||1,967|
|Activity|Basis of allocation|
|---|---|
|Finance|equally between grant activities and investment management|
|Governance costs|equally between grant activities and investment management|
## **6. INDEPENDENT EXAMINERS' REMUNERATION**
|**INDEPENDENT EXAMINERS' REMUNERATION**|||
|---|---|---|
||31.5.21|31.5.20|
||£|£|
|Independent examiners remuneration|1,800|1,800|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.
## **8. INVESTMENT PROPERTY**
|**FAIR VALUE**
At 1 June 2020
and 31 May 2021
**NET BOOK VALUE**
At 31 May 2021
At 31 May 2020|£
540,000|
|---|---|
||540,000|
||540,000|
The investment properties have been valued by the trustees on a rental yield basis.
Page 8
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
|**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments and accrued income
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
Accruals and deferred income|31.5.21
£
18,263
7,239
25,502
31.5.21
£
4,642
11,588
16,230|31.5.20
£
29,923
6,744|
|---|---|---|
|||36,667|
|||31.5.20
£
4,642
16,298|
|||20,940|
Accruals and deferred income includes £7,988 (2020: £10,898) of deferred income for rent invoiced for a period following the year end.
## **11. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.6.20
£
587,735
587,735
Incoming
resources
£
100,399
100,399
At 1.6.19
£
585,486
585,486|Net
movement
At
in funds
31.5.21
£
£
11,264
598,999
11,264
598,999
Resources
Movement
expended
in funds
£
£
(89,135)
11,264
(89,135)
11,264
Net
movement
At
in funds
31.5.20
£
£
2,249
587,735
2,249
587,735|
|---|---|---|
Page 9
continued...
**The Dakri Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **11. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|92,402|(90,153)|2,249|
|**TOTAL FUNDS**|92,402|(90,153)|2,249|
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 May 2021.
Page 10
## **The Dakri Charitable Trust**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 May 2021**
31.5.21
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
4,800
**Investment income**
Rents receivable
95,599
**Total incoming resources**
100,399
**EXPENDITURE**
**Investment management costs**
Portfolio management
16,568
**Charitable activities**
Grants to institutions
61,200
Grants to individuals
9,400
70,600
**Support costs**
**Finance**
Bank charges
167
**Governance costs**
Independent examiners remuneration
1,800
Total resources expended
89,135
**Net income**
11,264|31.5.20
£
6,800
85,602|
|---|---|
||92,402
13,169
63,970
11,087|
||75,057
127
1,800|
||90,153|
||2,249|
This page does not form part of the statutory financial statements
Page 11