REGISTERED CHARITY NUMBER: 1093198
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
FOR
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
Waterfords Europe Limited t/a Jon Avol Waterfords 204 Field End Road
Pinner Middlesex HA5 1RD
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2022
The trustees present their report with the financial statements of the charity for the year ended 5 April 2022. 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
1) To relieve persons, whether or not they are resident or temporarily located in Uganda, United Kingdom, India or any other countries agreed by the Trustees, but in particular widows and children who are resident in Uganda, United Kingdom or India, who are in conditions of need, hardship or distress as a result of local, national or international disaster or by reason of their social and economic circumstances, and
2) To further the education (including social and physical training) of students attending schools and other educational establishments in the countries of Uganda. United Kingdom, India or any other countries chosen by the Trustees
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1093198
Principal address
52 Station Road West Drayton Middlesex UB7 7BS
Trustees
N H Karbani Trustee Mrs Z Karbani Trustee
Independent Examiner
Waterfords Europe Limited t/a Jon Avol Waterfords 204 Field End Road Pinner Middlesex HA5 1RD
Approved by order of the board of trustees on 15 February 2023 and signed on its behalf by:
/) /[,,,_ ] � �
N H Karbani - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
Independent examiner's report to the trustees of Abu Bakr & Zakeriya Memorial Charitable Trust
I report to the charity trustees on my examination of the accounts of Abu Bakr & Zakeriya Memorial Charitable Trust (the Trust) for the year ended 5 April 2022.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Sanjay Anand FCCA Waterfords Europe Limited t/a Jon Avol Waterfords 204 Field End Road Pinner Middlesex HA5 1RD
15 February 2023
Page 2
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2022
| 5.4.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 126,225 Investment income 2 67 Total 126,292 EXPENDITURE ON Raising funds 3 56,073 Charitable activities Donations 67,219 Other - Total 123,292 Net gains/(losses) on investments - NET INCOME 3,000 RECONCILIATION OF FUNDS Total funds brought forward 696,979 TOTAL FUNDS CARRIED FORWARD 699,979 |
5.4.21 Total funds £ 130,701 82,514 213,215 37,576 94,020 1,631 133,227 (7,493) 72,495 624,484 696,979 |
|---|---|
The notes form part of these financial statements
Page 3
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
BALANCE SHEET
5 APRIL 2022
| 5.4.22 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 290,783 Investments 8 3,770 294,553 CURRENT ASSETS Debtors 9 389,500 Cash at bank 30,872 420,372 CREDITORS Amounts falling due within one year 10 (14,946) NET CURRENT ASSETS 405,426 TOTAL ASSETS LESS CURRENT LIABILITIES 699,979 NET ASSETS 699,979 FUNDS 11 Unrestricted funds 699,979 TOTAL FUNDS 699,979 |
5.4.21 Total funds £ 290,783 3,770 294,553 370,790 32,848 403,638 (1,212) 402,426 696,979 696,979 696,979 696,979 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 15 February 2023 and were signed on its behalf by:
/) /[,,,_ ] � � N H Karbani - Trustee
The notes form part of these financial statements
Page 4
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
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 2019)', 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, with the exception of investments which are included at market value.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Rents received Deposit account interest |
5.4.22 £ - 67 67 |
5.4.21 £ 82,500 14 |
| 82,514 |
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2022
3. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| Support costs Investment management costs Legal Fees Insurance Light and heat Rent Property repairs Rates and water Aggregate amounts 4. GRANTS PAYABLE Donations The total grants paid to institutions during the year was as follows: Institutions |
5.4.22 £ 1,200 5.4.22 £ 15,360 6,990 450 11,400 4,658 16,015 54,873 56,073 5.4.22 £ 66,522 5.4.22 £ 14,250 |
5.4.21 £ - 5.4.21 £ 4,523 5,410 1,736 11,400 8,522 5,985 |
| 37,576 | ||
| 37,576 | ||
| 5.4.21 £ 94,020 |
||
| 5.4.21 £ 88,020 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2022
- COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 130,701 | |
| Investment income | 82,514 | |
| Total | 213,215 | |
| EXPENDITURE ON | ||
| Raising funds | 37,576 | |
| Charitable activities | ||
| Donations | 94,020 | |
| Other | 1,631 | |
| Total | 133,227 | |
| Net gains/(losses) on investments | (7,493) | |
| NET INCOME | 72,495 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 624,484 | |
| TOTAL FUNDS CARRIED FORWARD | 696,979 | |
| 7. | TANGIBLE FIXED ASSETS | |
| Long | ||
| leasehold | ||
| £ | ||
| COST | ||
| At 6 April 2021 and 5 April 2022 | 290,783 | |
| NET BOOK VALUE | ||
| At 5 April 2022 | 290,783 | |
| At 5 April 2021 | 290,783 |
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2022
| 8. FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2021 and 5 April 2022 NET BOOK VALUE At 5 April 2022 At 5 April 2021 There were no investment assets outside the UK. 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Tax Prepayments and accrued income 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 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 |
At 6.4.21 £ 696,979 696,979 Incoming resources £ 126,292 126,292 |
Unlisted investments £ 3,770 3,770 3,770 5.4.22 5.4.21 £ £ 370,000 350,000 16,650 17,940 2,850 2,850 389,500 370,790 5.4.22 5.4.21 £ £ - 1 14,946 1,211 14,946 1,212 Net movement At in funds 5.4.22 £ £ 3,000 699,979 3,000 699,979 Resources Movement expended in funds £ £ (123,292) 3,000 (123,292) 3,000 |
|---|---|---|
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 6.4.20 £ Unrestricted funds General fund 624,484 TOTAL FUNDS 624,484 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 213,215 (133,227) TOTAL FUNDS 213,215 (133,227) |
Net movement At in funds 5.4.21 £ £ 72,495 696,979 72,495 696,979 Gains and Movement losses in funds £ £ (7,493) 72,495 (7,493) 72,495 |
At 5.4.21 £ 696,979 |
|---|---|---|
| 696,979 | ||
| 72,495 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.20 £ 624,484 624,484 |
Net movement in funds £ 75,495 75,495 |
At 5.4.22 £ 699,979 |
|---|---|---|---|
| 699,979 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 339,507 339,507 |
Resources expended £ (256,519) (256,519) |
Gains and Movement losses in funds £ £ (7,493) 75,495 (7,493) 75,495 |
Gains and Movement losses in funds £ £ (7,493) 75,495 (7,493) 75,495 |
|---|---|---|---|---|
| 75,495 |
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2022
- RELATED PARTY DISCLOSURES
Included in other debtors are the following:
1) Lomax Ventures Limited owing the charity £145,000, a company in which Mr N H Karbani is a director and share holder.
2) Akin Investments Limited owing the charity £225,000, Mr N H Karbani is a director and share holder.
All transaction were at arms length.
Page 10
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2022
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022 |
||
|---|---|---|
| 5.4.22 | 5.4.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 109,575 | 112,761 |
| Gift aid | 16,650 | 17,940 |
| 126,225 | 130,701 | |
| Investment income | ||
| Rents received | - | 82,500 |
| Deposit account interest | 67 | 14 |
| 67 | 82,514 | |
| Total incoming resources | 126,292 | 213,215 |
| EXPENDITURE | ||
| Investment management costs | ||
| Legal Fees | 15,360 | 4,523 |
| Insurance | 6,990 | 5,410 |
| Light and heat | 450 | 1,736 |
| Rent | 11,400 | 11,400 |
| Property repairs | 4,658 | 8,522 |
| Rates and water | 16,015 | 5,985 |
| 54,873 | 37,576 | |
| Charitable activities | ||
| Grants to institutions | 14,250 | 88,020 |
| Grants to individuals | 52,272 | 6,000 |
| 66,522 | 94,020 | |
| Support costs | ||
| Finance | ||
| Bank charges | 506 | 264 |
| Governance costs | ||
| Sundries | 191 | 167 |
| Accountancy fees | 1,200 | 1,200 |
| 1,391 | 1,367 | |
| Total resources expended | 123,292 | 133,227 |
| Net income before gains and losses | 3,000 | 79,988 |
| Realised recognised gains and losses | ||
| Carried forward | 3,000 | 79,988 |
This page does not form part of the statutory financial statements
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| FOR THE YEAR ENDED 5 APRIL 2022 | ||
| 5.4.22 | 5.4.21 | |
| £ | £ | |
| Realised recognised gains and losses | ||
| Brought forward | 3,000 | 79,988 |
| Realised gains/(losses) on fixed asset investments | - | (7,493) |
| Net income | 3,000 | 72,495 |
This page does not form part of the statutory financial statements
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