ISL4MIC SOCIAL AND EDUCATIONAL TRUST STATEMENTS OF FINANCIAL AcfiviTIES AND BALANCE SHEET FOR THE PERIOD ENDEO 31 March 2022 TRUSTEES, REPORT rhÈy pSert1 their report and the linancial st3ternen15 lor the year ended 31 March 2022. objectt$ A. To advance edvcation and provide fècilities, in particular but not exclusively lor young people. In the intere5t5 of soclal welfare for recreation ènd other leisure lime occupation with the object of improving the cOndli0nS of life of such people B. To promote equality ol opportunlly and 8ood relations between persons of different racial 8rovp5 Trustees The Trustees who seTred durin8 the period are.. Mr. Ahmad Waqar Bai8 Ichairmanl Miss. Taiba Tamoorl Mr. Bajhtyar Muhammad Khan Mr. Mu51afo Raza Khan Bai8 The law require5 the TfUSlee5 10 prepare financial 5t3tement5 lor each financial year, which gives a true and In proparing these ihe Trusi¢es are required to.. Prepare the financi31 statements on the 8Oln8 concern basis unless it 15 inappropr5ate to presume thai the Make jud8ement and estimaie5 that are reasonable and prudent The Trusiees are responsible lor keeping accountin8 reeord5 whith dlsclose with reasonable accurac¥ ai any time the financial position of the chariiy and to enable them to ensure that the financial statemenis complv with the Charily Aci 1993. They are also rÈspon5ible for safe8uardin8 the asset5 01 the charity and hence tèking reasonable 5tep5 for the prevention and detection ef fraud and other irre8ulafilie5. The report wa5 approved by the board on the.,.......,.....................,.. and signed on its behalf by.. Chairman.. Si8nature'. Secretary.. Signature..
Registered number 1100516
ISLAMIC SOCIAL AND EDUCATIONAL TRUST
Report and Accounts
31 March 2022
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Report and accounts Contents
| Page | |
|---|---|
| Charity information | 1 |
| Report of the Officers | 2 |
| Accountants' report | 3 |
| Income & Expenditur account | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6-8 |
| Detailed Income & Expenditure account | 9-10 |
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Charity Information
Trustees
Ahmad Waqar Baig Mustafa Raza Khan Baig Taiba Tamoori Bakhtyar Muhammad Khan Baig
Acting Chairperson
Ahmad Waqar Baig
Accountants
Azam & Co 141 Cheetham Hill Road Manchester M8 8LY
Bankers
RBS 572 Stockport Road Longsight Manchester M12 4JJ
Registered office
ISLAMIC SOCIAL AND EDUCATION TRUST ST. JOHNS ROAD LONGSIGHT MANCHESTER M13 0WU
Registered charity number
1100516
1
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Registered number: 1100516 Trusteess' Report
The trusteess present their report and accounts for the year ended 31 March 2022.
Principal activities
The charity's principal activity during the year continued to be a charity.
Charity Trustees
The following persons served as trustees during the year:
Ahmad Waqar Baig Mustafa Raza Khan Baig Taiba Tamoori Bakhtyar Muhammad Khan Baig
This report was approved by the board on 23 January 2023 and signed on its behalf.
Ahmad Waqar Baig ( Chairman) Chairperson
2
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Accountants' Report
Accountants' report to the trusteess of ISLAMIC SOCIAL AND EDUCATIONAL TRUST
You consider that the company is exempt from an audit for the year ended 31 March 2022. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Azam & Co Chartered Accountants
141 Cheetham Hill Road Manchester M8 8LY
23 January 2023
3
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Income and Expenditure Account for the year ended 31 March 2022
| Donations Administrative expenses Operating loss Loss on ordinary activities before taxation Tax on loss on ordinary activities Loss for the financial year |
2022 £ 39,945 (49,558) (9,613) (9,613) - (9,613) |
2021 £ 21,077 (40,635) |
|---|---|---|
| (19,558) | ||
| (19,558) - |
||
| (19,558) |
4
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Registered number: 1100516 Balance Sheet as at 31 March 2022
| Notes Fixed assets Tangible assets 2 Current assets Debtors 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Net assets Capital and reserves Unrestricted funds Accumulated funds |
2022 £ 96,699 5,156 33,980 39,136 (21,188) 17,948 114,647 114,647 114,647 |
2021 £ 98,541 5,156 20,848 26,004 (285) 25,719 124,260 124,260 124,260 |
2021 £ 98,541 5,156 20,848 26,004 (285) 25,719 124,260 124,260 124,260 |
|---|---|---|---|
| 124,260 | |||
| 124,260 | |||
| 124,260 |
The trusteess are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The income and expenditure account has not been delivered to the Registrar of Companies.
Ahmad Waqar Baig ( Chairman) Chairperson Approved by the board on 23 January 2023
5
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Notes to the Accounts for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Notes to the Accounts for the year ended 31 March 2022
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
7
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Notes to the Accounts for the year ended 31 March 2022
| Cost At 1 April 2021 At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 3 Debtors Other debtors 4 Creditors: amounts falling due within one year Trade creditors Other taxes and social security costs Other creditors |
Land and buildings £ 93,431 93,431 - - - 93,431 93,431 |
Plant and machinery etc £ 11,381 11,381 6,271 1,842 8,113 3,268 5,110 2022 £ 5,156 2022 £ 500 4,103 16,585 21,188 |
Total £ 104,812 |
|---|---|---|---|
| 104,812 | |||
| 6,271 1,842 |
|||
| 8,113 | |||
| 96,699 | |||
| 98,541 | |||
| 2021 £ 5,156 |
|||
| 2021 £ - 285 - |
|||
| 285 |
5 Other information
ISLAMIC SOCIAL AND EDUCATIONAL TRUST is a charity registered in England. Its registered office is:
ISLAMIC SOCIAL AND EDUCATIO ST. JOHNS ROAD LONGSIGHT MANCHESTER M13 0WU
8
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Detailed income and expenditure account for the year ended 31 March 2022
This schedule does not form part of the statutory accounts
| Sales Administrative expenses Operating loss Loss |
2022 £ 39,945 (49,558) (9,613) (9,613) |
2021 £ 21,077 (40,635) |
|---|---|---|
| (19,558) | ||
| (19,558) |
9
ISLAMIC SOCIAL AND EDUCATIONAL TRUST Detailed income and expenditure account for the year ended 31 March 2022
This schedule does not form part of the statutory accounts
| Sales Donations Administrative expenses Employee costs: Wages and salaries Employer's NI Motor expenses Premises costs: Water charges Light and heat Cleaning General administrative expenses: Telephone and internet Postage Insurance Equipment expensed Waste Repairs and maintenance Depreciation Sundry expenses Legal and professional costs: Accountancy fees Advertising and PR Other legal and professional |
2022 £ 39,945 19,000 1,401 30 20,431 4,475 14,274 - 18,749 766 384 704 1,517 1,708 2,894 1,842 - 9,815 500 63 - 563 49,558 |
2021 £ 21,077 |
|---|---|---|
| 4,745 - 278 |
||
| 5,023 | ||
| 1,845 6,989 1,330 |
||
| 10,164 | ||
| 984 - 717 12,031 - 8,246 - 2,771 |
||
| 24,749 | ||
| 500 - 199 |
||
| 699 | ||
| 40,635 |
10
ISLAMIC SOCIAL AND EDUCATIONAL TRUST STATEMENTS OF FINANCIAL ACTIVITIES AND BALANCE SHEET FOR THE PERIOD ENDED 31 March 2022 INDEPENDENT EXAMINER'S REPORT rhe Charity Trustees are responsible for the preparation ol the accounts. The Charity'5 Trustees consider that an audit is not required for thi5 year. under section 43121 ol the Charities Act 1993 and that an independent examination is needed. It is my responsibility to.. Examine the Accounts (under section 4313113) ol the Act Follow the procedures laid down in the General Directions given by the Charity Commissioners lunder settion 43171 Ibl of the Act.. and State whether panicular matters have come to my attention. My examination was carried out in accordan¢e with General Direction5 8iven by the Charity commissioners. An examination includes the review of the accounting record kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration ol any unusual items and disclosures in the accoun¢5, seeking explanation from the Trustees concerning anv such matters. The procedures undertaken do not provide all the evidence that would be required in n audit. and consequently, I do not express and audited oplnion on the accounts. No matter has come to my attention in connection with my examination.. which 8ives me reasonable cause to believe that In any Fnaterial respect the requlrements.. 11 to keep accounting records in accordance with Section 41 of the 1993 Act., and 21 to prepare accounts which accord with the accounting records and comply with the accountlng requifement of the Act have not been met,. or to which in my opinion attontion should be drawn in order to enable p¥oper understanding of the accotsnts to be reached. Name.. E-IANlrt Date: Profession,.