Sheikh Abdullah Foundation(1092220)
MINUTES OF A BOARD MEETING HELD AT THE REGISTERED OFFICE ON……………….
TRUSTEES PRESENT:
Lady Shaida Sheikh Miss Z I Sheikh
Lady Sheikh was appointed Chair of the meeting.
It is with great sadness that we record the death of Lord Sheikh on 22 September 2022.
Following the death of Lord Sheikh, Lady Shaida Sheikh has been appointed Company Secretary and is to be sole signatory on the bank account.
IT WAS RESOLVED that the financial statements for the year ended 31 March 2022 be approved by the Board.
There being no other business the Chair declared the Meeting closed.
On behalf of the Board:
.....................
Director and Trustee
REGISTERED COMPANY NUMBER: 04399382 (England and Wales) REGISTERED CHARITY NUMBER: 1092220
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
Sheikh Abdullah Foundation
Thornton Springer LLP Chartered Accountants 67 Westow Street London United Kingdom SE19 3RW
Sheikh Abdullah Foundation
Contents of the Financial Statements for the Year Ended 31 March 2022
| 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 | 9 |
| Detailed Statement of Financial Activities | 10 |
Sheikh Abdullah Foundation
Report of the Trustees for the Year Ended 31 March 2022
The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ' Accounting and Reporting by Charities' issued in March 2015.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objects of the charity are to promote any charitable purpose including the advancement of education, relief of poverty, advancement of religion and protection of health.
Public benefit
The trustees have complied with the duty in the section 4 of the 2011 Charities Act to have due regard to guidance published by the Charities Commission regarding public benefit. The details of the public benefit are set out under Objectives above. Specifically, as reported under Charitable Activities, the charity has continued to use its available resources to provide grants to worthy charities.
Volunteers
The charity is operated by the Trustees alone, who offer their services without charge. At present the charity has no need for further volunteers.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the Charity received gifts and donations of £44,268 and £33,035 was applied to grants and donations to other charities and worthy causes in line with the Charity's objects. The surplus for the year was added to reserves to be applied in future periods.
FINANCIAL REVIEW
Reserves policy
The charity makes grants and donations according to the funds held in reserve. The overheads of the charity are currently minimal, which has enabled the charity to distribute most of the funds held. The reserves held at the financial year end total £10,846 which is considered adequate by the Trustees for the immediate requirements of the Charity. It is the policy of the trustees to ensure that donations paid are restricted to available resource after taking account of any liabilities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and is controlled by its Memorandum and Articles of Association.
Recruitment and appointment of new trustees
The power of the trustees to appoint new trustees is contained within the Articles of Association. The Trustees will use their best endeavours to recruit suitably qualified Trustees and, if considered necessary, arrange for training to ensure that their contribution will be effective and benefit the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04399382 (England and Wales)
Registered Charity number
1092220
Registered office
28 Queen Elizabeth Drive Southgate London N14 6RD
Page 1
Sheikh Abdullah Foundation
Report of the Trustees
for the Year Ended 31 March 2022
Trustees
Lord M I Sheikh (deceased 22.9.22) Lady S Sheikh Miss Z I Sheikh
Company Secretary
Lady S Sheikh
Independent Examiner
P L Wallyn FCA Thornton Springer LLP Chartered Accountants 67 Westow Street London United Kingdom SE19 3RW
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Lady S Sheikh - Secretary
Page 2
Independent Examiner's Report to the Trustees of Sheikh Abdullah Foundation
Independent examiner's report to the trustees of Sheikh Abdullah Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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 matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
P L Wallyn FCA Thornton Springer LLP Chartered Accountants 67 Westow Street London United Kingdom SE19 3RW
Date: .............................................
Page 3
Sheikh Abdullah Foundation
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2022
| 31.3.22 | 31.3.21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 44,268 | 32,501 | |
| Investment income | 2 | 8 | 5 |
| Total | 44,276 | 32,506 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Other Charities | 33,035 | 30,450 | |
| Other | 1,166 | 960 | |
| Total | 34,201 | 31,410 | |
| NET INCOME | 10,075 | 1,096 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 771 | (325) | |
| TOTAL FUNDS CARRIED FORWARD | 10,846 | 771 |
The notes form part of these financial statements
Page 4
Sheikh Abdullah Foundation
Balance Sheet
31 March 2022
| 31.3.22 | 31.3.21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 11,902 | 1,731 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (1,056) | (960) |
| NET CURRENT ASSETS | 10,846 | 771 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 10,846 | 771 | |
| NET ASSETS | 10,846 | 771 | |
| FUNDS | 6 | ||
| Unrestricted funds | 10,846 | 771 | |
| TOTAL FUNDS | 10,846 | 771 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S Sheikh - Trustee
The notes form part of these financial statements
Page 5
Sheikh Abdullah Foundation
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
Taxation
The charity is exempt from corporation 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Deposit account interest | 8 | 5 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Page 6
continued...
Sheikh Abdullah Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
4. DONATIONS PAYABLE
| 5. 6. |
31.03.22 | 31.03.21 | |
|---|---|---|---|
| £ | £ | ||
| Orphans in Need | 20,000 | 10,000 | |
| Muslim Council of Britain | 100 | ||
| The Speak Suicide Prevention Charity | - | 100 | |
| National Muslim War Memorial Trust | 5,350 | 19,000 | |
| Kawsar Zaman | - | 1,250 | |
| Islam and Liberty Network | 5,000 | - | |
| Other institution's | 2,685 | - | |
| 33,035 | 30,450 | ||
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income MOVEMENT IN FUNDS At 1.4.21 £ Unrestricted funds General fund 771 TOTAL FUNDS 771 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 44,276 TOTAL FUNDS 44,276 |
31.3.22 £ 1,056 Net movement in funds £ 10,075 10,075 Resources expended £ (34,201) (34,201) |
31.3.21 £ 960 At 31.3.22 £ 10,846 10,846 Movement in funds £ 10,075 10,075 |
continued...
Page 7
Sheikh Abdullah Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
6. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.20 | in funds | 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (325) | 1,096 | 771 |
| TOTAL FUNDS | (325) | 1,096 | 771 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 32,506 | (31,410) | 1,096 |
| TOTAL FUNDS | 32,506 | (31,410) | 1,096 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.20 | in funds | 31.3.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (325) | 11,171 | 10,846 |
| TOTAL FUNDS | (325) | 11,171 | 10,846 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 76,782 | (65,611) | 11,171 |
| TOTAL FUNDS | 76,782 | (65,611) | 11,171 |
continued...
Page 8
Sheikh Abdullah Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 9
Sheikh Abdullah Foundation
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| Detailed Statement of Financial Activities for the Year Ended 31 March 2022 |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 44,268 | 32,501 |
| Investment income | ||
| Deposit account interest | 8 | 5 |
| Total incoming resources | 44,276 | 32,506 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 33,035 | 30,450 |
| Other | ||
| Bank charges | 10 | - |
| Membership fees | 100 | - |
| 110 | - | |
| Support costs | ||
| Governance costs | ||
| Independent Examiner's fees | 1,056 | 960 |
| Total resources expended | 34,201 | 31,410 |
| Net income | 10,075 | 1,096 |
This page does not form part of the statutory financial statements
Page 10
23.11.2022
Thornton Springer LLP 67 Westow Street London, SE19 3RW
Dear Sirs,
In connection with your examination of the financial statements for the year ended 31 March 2022 the following representations, which are true to the best of our knowledge and belief, are made to supplement information obtained by you from the books and records of the Charity and to confirm information given to you orally.
We acknowledge as trustees our responsibility in making accurate representations to you and for the financial statements, which as agents you have prepared, on our behalf. All the accounting records have been made available to you for the purposes of your Independent Examination and all the transactions undertaken by the Charity have been properly reflected and recorded in the accounting records. All other records and related information including minutes of all management and trustees’ meetings have been made available to you.
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The assets shown in the Charity's books and financial statements at 31 March 2022 belonged to the Charity and were free from any charge.
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There have been no irregularities or allegations thereof involving management or employees who have a significant role in internal control or that could have a material effect on the financial statements.
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We confirm that we are not aware of any possible or actual instance of noncompliance with those laws and regulations which provide a legal framework within which the charity conducts its business. The charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance.
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We confirm that, having considered our expectations and intentions for the next twelve months and the availability of working capital, the charity is a going concern.
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Adequate provision has been made for adjustments and losses, which are known or expected to be suffered in respect of amounts owing to the Charity.
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The balance shown by the financial statements at the balance sheet date in respect of debtors are valid receivables and do not include charges under repurchase agreements.
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On realisation in the ordinary course of the Charity's business the other current assets in the balance sheet are expected, in the opinion of the trustees, to produce at least the amounts at which they are stated.
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With the possible exception of obligations of immaterial amount for which invoices
had not been received or which could not be readily determined or estimated, all known liabilities of the Charity at the balance sheet date have been taken up in the books of account.
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There were no contingent liabilities or capital commitments.
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All donations and grants were received without conditions which would otherwise restrict their use.
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The Board has not authorised or contracted for the purchase of any capital expenditure, which should be reported in the financial statements.
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We confirm that we are not aware of any indication, and have no suspicion, of any incidents of fraud or money laundering in connection with the charity.
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We confirm that we have disclosed to you all related party transactions relevant to the charity and that we are not aware of further related party matters that require disclosure other than those already disclosed in the accounts.
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There have been no irregularities or allegations thereof involving the trustees or others who have a significant role in internal control or that could have a material effect on the financial statements.
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Nothing has happened since 31 March 2022 that would materially affect either the balance sheet as at that date or the results for the year then ended.
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The general fund deficit will clear with donations received after the balance sheet date.
We confirm to the best of our knowledge and belief that the above representations are made on the basis of enquiries of Trustees and others with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy ourselves that we can properly make each of the above representations to you.
Yours faithfully
……………………………… Trustee For and on Behalf of Sheikh Abdullah Foundation