REGISTERED CHARITY NUMBER: 1093198
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
FOR
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
Waterfords Europe Limited t/a Jon Avol Waterfords 204 Field End Road Eastcote Middlesex HA5 1RD
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
| 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 | 9 |
| Detailed Statement of Financial Activities | 10 |
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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 2023.
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 2. 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
Waterfords Europe Limited t/a Jon Avol Waterfords 204 Field End Road Eastcote Middlesex HA5 1RD
26 February 2024
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2023
| 5.4.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 91,310 Investment income 2 29 Other income 89,035 Total 180,374 EXPENDITURE ON Raising funds 3 50,955 Charitable activities Donations 64,605 Total 115,560 NET INCOME 64,814 RECONCILIATION OF FUNDS Total funds brought forward 699,979 TOTAL FUNDS CARRIED FORWARD 764,793 |
5.4.22 Total funds £ 126,225 67 - |
|---|---|
| 126,292 | |
| 56,770 66,522 |
|
| 123,292 | |
| 3,000 696,979 |
|
| 699,979 |
The notes form part of these financial statements
Page 3
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST BALANCE SHEEr SAPRiL 2023 OA.23 Unrnslrklqd 5 4.r2 Totsl FIXED ASSETS Tangitle #ssets 290.783 3.770 3,770 294.SSJ CURRENT ASS8 08btor5 rAsh atbank 407,770 8JW1 471.4$1 4ZI,372 CREDITORS AMOtsIa1q %%itrM"n oro JY•r 10 {13111 114.9181 CURRENT ASSETS 470,240 4C6.426 TOTALASSETS LESS CURRENT UA8ILmES 714.79J NET ASSET8 764,793 FUNDS Unrostrthd 11 764,793 693,979 TOTAL FUNOS 764.793 693.979 re swdon rohhty. N H Kathrn. Tn*e
ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
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 | ||
|---|---|---|
| 5.4.23 | 5.4.22 | |
| £ | £ | |
| Deposit account interest | 29 | 67 |
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023
3. RAISING FUNDS
| 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 |
5.4.23 £ 1,612 5.4.23 £ 8,589 8,196 698 11,400 6,529 13,931 49,343 50,955 5.4.23 £ 64,605 5.4.23 £ 9,605 |
5.4.22 £ 1,897 5.4.22 £ 15,360 6,990 450 11,400 4,658 16,015 |
|---|---|---|
| 54,873 | ||
| 56,770 | ||
| 5.4.22 £ 66,522 |
||
| 5.4.22 £ 14,250 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 126,225 |
| Investment income | 67 |
| Total | 126,292 |
| EXPENDITURE ON | |
| Raising funds | 56,770 |
| Charitable activities | |
| Donations | 66,522 |
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023
- COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS COST At 6 April 2022 and 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 8. FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2022 and 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 There were no investment assets outside the UK. 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Tax Prepayments and accrued income |
Unrestricted fund £ 123,292 3,000 696,979 699,979 Long leasehold £ 290,783 290,783 290,783 Unlisted investments £ 3,770 3,770 3,770 5.4.23 5.4.22 £ £ 395,000 370,000 9,920 16,650 2,850 2,850 407,770 389,500 |
|---|---|
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 5.4.23 | 5.4.22 | |||
| £ | £ | |||
| Other creditors | 1,211 | 14,946 | ||
| 11. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 6.4.22 | in funds | 5.4.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 699,979 | 64,814 | 764,793 | |
| TOTAL FUNDS | 699,979 | 64,814 | 764,793 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 180,374 | (115,560) | 64,814 | |
| TOTAL FUNDS | 180,374 | (115,560) | 64,814 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 6.4.21 | in funds | 5.4.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 696,979 | 3,000 | 699,979 | |
| TOTAL FUNDS | 696,979 | 3,000 | 699,979 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 126,292 | (123,292) | 3,000 | |
| TOTAL FUNDS | 126,292 | (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 2023
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.21 £ 696,979 696,979 |
Net movement in funds £ 67,814 67,814 |
At 5.4.23 £ 764,793 |
|---|---|---|---|
| 764,793 |
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 £ 306,666 306,666 |
Resources Movement expended in funds £ £ (238,852) 67,814 (238,852) 67,814 |
Resources Movement expended in funds £ £ (238,852) 67,814 (238,852) 67,814 |
|---|---|---|---|
| 67,814 |
12. 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.
2) NHAIK partnership owing the charity £25,000, Mr N H Karbani is a partner.
All transaction were at arms length.
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ABU BAKR & ZAKERIYA MEMORIAL CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2023
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023 |
||
|---|---|---|
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Investment income Deposit account interest Other income Insurance claim Total incoming resources EXPENDITURE Investment management costs Legal Fees Insurance Light and heat Rent Property repairs Rates and water Charitable activities Grants to institutions Grants to individuals Support costs Finance Bank charges Governance costs Sundries Accountancy fees Total resources expended Net income |
5.4.23 £ 81,390 9,920 91,310 29 89,035 180,374 8,589 8,196 698 11,400 6,529 13,931 49,343 9,605 55,000 64,605 221 191 1,200 1,391 115,560 64,814 |
5.4.22 £ 109,575 16,650 |
| 126,225 67 - |
||
| 126,292 15,360 6,990 450 11,400 4,658 16,015 |
||
| 54,873 14,250 52,272 |
||
| 66,522 506 191 1,200 |
||
| 1,391 | ||
| 123,292 | ||
| 3,000 |
This page does not form part of the statutory financial statements
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