RA LEARNING CENTRE 180-182 Allesley Old Road Coventry CV5 8GJ Charity Number 1093756 2023 Report & Accounts RA LEARNING CENTRE Chari number 1093756 TRUSTEES ANNUAL REPORT The trustees present their fourteenth annual report together with the accounts for the year to 31 st December 2023. Background The Iqra Learning Centre was set up in January 2002. The constitution of the trust was approved by the trustees and other interested parties and the Iqra Learning Centre was registered as a charity. Trustees Executive Committee: Mr Pino Khan Mr Tahir Iqbal Mr Mehrban Hussaln Mr Zulficar Khan Mr Sajjad Hussain Mr Imran Hussain Mr Zafar Iqbal Mr Ashiq Hussain Mr Abu Tariq Khan (appolnted 12th November 2023) Chairman The trustees are appointed by the members at the annual general meetings. Only individuals who have the knowledge of the activities and objectives of the centre are nominated Once they are appointed, the committeee members provide the necessary training of duties, responsibilities and procedures. Objectlves The objectives of the charity are as follows: (i) the advancement and promotlon of the Islamic religion in accordance with the tenets and doctrines of the Ahllus Sunnah Wal Jammaah (li) the advancement of the education of Muslim children in accordance with the tenets and doctrines of the Ahllus Sunnah Wal Jammaah (iii) to advance the education of the general public in the culture and traditions of Islam. These objectlves are met by the provision of a place for public worship and a library. There are also regular quranic and Islamic classes for adults and children as well as monthly social gatherings and regular meetings with local churches for inter-faith dialogs. Furthermore, the charity regularly engages in raising funds for other charities and emergency disaster appeals. The trustees are mindful of the Charities Commission guidan￿ on public benefit and they believe that the charity's activities do provide public benefit. Fixed Assets The charity's freehold property is vested In the names of the trustees. Review of Financlal Actlvltles During 2023 the incorning resources continued to increase and even though employmenl CDSts and lighuheat costs inixea8ed by a considerable amounl Ihe charity's net incoming re80urce8 were rnuch higher Gompared to the previous year. Two card machines have been added at the entrances and Ihis is generating exlra Incomes. The two flats were fulty let. The net Incoming resources during 2023 amounted to £34,925 (2022- £31,939). At 31st December 2023 d)arlty l)ad unrestriGte(i iunii8 of £460,578 (2023- £425,653). Durlng 2023, the charty spenl £21,189 on renovatlng the car park and also £3,764 on planning costs. Profèsslonal Servlces Durlng the perfod the charlty used the 8eNlces provlded by the followlng companles.. Solicrforn.. BRM Legal. Solicitors Coventy Accountants.. Crystal Busln885 Servlces Ltd Chartered Accountants Coventy 8ank8rs.' HSBC Bank Plc, Foleshlll Rd Coventy Invo8tmentlR88orva8 Pollcl89 The rental incomes together with surplus donationslcollectlon8 wll continue to be utilised for prlvate108n repayments. There are no 8pecific investment or reserves pollcles and the trustees feel that the bank balances will be sufficlent to meet any private short-tsm loan repayment demand. Rlsk Revlow The trustees actively revlew the major rlsks thich the charity faces on a regular basis, The income is constantly monltored and the financial risks are minimised by authofising expendlture8 In line with the incomes. Approved by the trustees on 20th Oclober 2024 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF RA LEARNING CENTRE I report on the accounts of the charity for the year ended 31 December 2023 which are set out on pages 4 to 7. Res onsibilities and basis of re ort As the charity trustees of the company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. 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 independenl examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Direciions given by the Charity Commission under section 145(5)(b> of the Charities Act 2011. Inde endent examiner's statement Icon irm that l am qualified to undertake the examination because l am a member of the Insiilute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no matters have come to my attention in conneclion with the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of the charity as required by the Charities Act; or 2.the accounts do not accord with those records,. or 3.the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other ihan any requiremenl that the accounts give a 'irue and fair view, which is not a matter considered as part of an independent examination., or 4.the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reportin9 by charities. applicable to charities preparin9 their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republlc of Ireland (FRS 102). I have no concerns and have come across no other matters in connection wilh the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr Akbar Dedat Chartered Accountant Crystal Business Services Ltd. 264 Stoney Stanton Road 20th October 2024 RA LEARNING CENTRE Statement Of Financial Activi For The Year To 31 st December 2023 Income and Ex enditure Account Total Total 2022 Restrlcted Unrestrlcted 2023 INCOMING RESOURCES Generated Funds Donations & Collections Rental Income Total Incomin 2,684 113,660 116,344 9,752 9,752 123,412 126,096 95,933 10,820 106,753 Resources 2,684 RESOURCES EXPENDED Salaries Donations to charity Bank charges Cleaning Light & heat Building rates Expenses of rented flat Building repairs and safety certificates Sundry expenses Telephone and internet Total Charltsble Ex 74,056 74,056 2,684 286 228 8,481 352 1,883 2138 409 654 91,171 58,625 2,684 286 228 8,481 352 1,883 2,138 409 654 88,487 320 4,206 767 4,480 5,487 221 708 endltures 2,684 NET INCOMING RESOURCES 34,925 34,925 31,939 Reconciliatlon Of Funds Fund Balances At 1st January 2023 425,653 425,653 393,714 Fund Balances At 31st December 2023 460,578 460 578 425 653 ALL OF THE ACTIVITIES ARE CONTINUING. RA LEARNING CENTRE Balance Sheet As At 31st December 2023 2023 2022 Flxed Assets Freehold Propety (Inc Costs)blf Capital costs incurred in Ihe year (The property is functional), 400,322 24,933 400,322 425,255 400,322 Current Assets HSBC Bank PIC 87,792 95,939 Less: Current Liabilities 2,169 7.808 Net Current AssetslLiabillties Total assets less current Ilabilitles 85,623 510,878 88,131 488,453 Lon Term Liablllties Private Loans 50,300 62,800 50,300 £ 460,578 62,800 425,653 NET ASSETS Flnanced B Unrestricted Fund8 460,578 425,653 £ 460,578 425,653 Approved by The Board of Trustees on the 20th October 2024 and signed on it's behalf Trustee Iq14 i klL£g A ( n) Trustee RA LEARNING CENTRE Notes to the Accounts For The Year Ended 31st December 2023 1 Summary of significant accounting policies (a) General information and basls of preparatlon The Iqra Learning Centre is a charity registered in England. The nature of the charity's operations and principal activities are set out in the trustees, report. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have not departed from the Charities (Accounts and Reports) Regulations 2008 in order to provide a 'lrue and fair The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. (c) Income recognltlon All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled lo the income after any performance conditions have been met, the amount can be measured reliably and il is probable thai the income will be received. No amount is included In the financlal statements for volunteer time in line with the SORP (FRS 102>. Id) Expendlture reco8nltlon All expenditure is accounted for on an accruals basis and has been classilied under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amounl of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. (e) Tanglble flxed assets The Trustees consider that the depreciation of land and buildings is not appropriate. Smaller moveable fixed assets are expensed in the revenue account. (fj Creditors payable wlthln one year Creditors wilh no staled interest rale and payable within one year are recorded at transaction price. The concessionary loans are stated at the actual amounts loaned. IQRA LEARNING CENTRE Notes to the Accounts For The Year Ended 31st December 2023 (g) Provisions Provisions are recognised when the charily has an obligation at the balance sheet date as a result of a past event, il is probable that an outflow of economic benefits will be required in settlement and the amount Can be reliably estimated. Ih) Tax The charity is an exempt charity wilhin the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable organisalion for UK corporation tax purposes. (11 Goln8 concern The financial slalemenls have been prepared on a going concern basis as the trustees believe Ihal no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. 2 Payroll costs The average number of full and part-time employees in the year was 10 (2022 - 6). There are no employees who received emoluments exceeding £60,000 in the year. There were no remunerations or disbursements for the active trustees during the year lo 31st December 2023. The analysis of payroll is as follows'.- 2023 2022 Gross salaries Social security costs(inc. employer pensions) 73,767 289 74,056 58,460 165 58,625 3 Long terni Ilabllltle8 These are interest-free concesslonary loans. They are long term and also there is the possibility that sone of these loans may be waived by the providers at which lime they will be treated as donations.