OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Charity number: 1113547

Raedan Institute

Trustees' report and financial statements

for the year ended 31 March 2022

Raedan Institute

Contents

Page
Legal and administrative information 1
Trustees report 2 - 3
Independent examiners' report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 9

Raedan Institute

Legal and administrative information

Charity number 1113547
Business address 2 Overton Road
Leicester
Leicestershire
LE5 0JA
Registered office 2 Overton Road
Leicester
Leicestershire
LE5 0JA
Trustees Mohamed Sidat (chairman)
Muhammad Ibraaheem Kolia
Mizbah Shaikh
Adam Dhorat
Accountants Sf Chartered Certified Accountants
Fairgate House
205 Kings Road
Tyseley
Birmingham
B11 2AA

Page 1

Raedan Institute

Report of the trustees for the year ended 31 March 2022

The trustees present their report and the financial statements for the year ended 31 March 2022. The trustees who served during the year and up to the date of this report are set out on page 1.

Structure, governance and management

The Charity is constituted by a 2006 Trust Deed and registered with the Charity Commissioners under charity number 1113547. The Trust Deed has not been amended since its initiation.

The Charity provides education primarily in Leicester and around the UK. The charity is continuing to expand the teaching of education through its proposed education centre in the UK. It is our policy that Raedan Institute achieves and maintains the highest academic level as well as provides an extra-curricular programme which aims to develop life-long leisure interests and help build self confidence and a desire to contribute to the community.

Objectives and activities

Objectives

The trustees must apply the income of the charity in furthering the following objects.

i To promote the education of people by providing educational classes in different subjects. ii. To provide facilities for recreation or other leisure time occupation for the members of the public in the interests of social welfare, with the objective of improving their conditions of life. at their discretion, the trustees may spend all or part of the capital of the charity in furthering the objects.

iii. The prevention or relief of poverty for the public benefit by providing food packs, debt relief and financial support with the aim of advancing the health and well-being of the general public and improving their conditions of life.

Achievements and performance

To provide education via our Centre of Excellence in Leicester To provide mental health and well-being services to the local community To provide online education and services To provide activities, events and workshops for the local community To provide food and educational packs to the local community

Financial review

We have leased a Centre of Excellence in Leicester and working through a project of renovation We provide education at our Centre and have employed staff as well as volunteers We fund food and educational packs via our donations and grants

We provide courses and workshops on education and mental health & well-being We provide extra-curricular activities, events and workshops to support the local community

Risk management

The trustee's examine the major risks that the charity faces each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the charity in the future.

Page 2

Raedan Institute

Report of the trustees for the year ended 31 March 2022

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other

On behalf of the board

Secretary

Page 3

Raedan Institute

Independent examiner's report to the trustees on the unaudited financial statements of Raedan Institute.

I report on the accounts of Raedan Institute for the year ended 31 March 2022 set out on pages 2 to 9.

Respective responsibilities of trustees and independent examiner

As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, as amended; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, as amended; and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(i) which gives me reasonable cause to believe that in any material respect the requirements:

have not been met; or

...........................................................

Farah Saddique Association of Chartered Ceritifed Accountants Independent examiner

Fairgate house 205 Kings Road

Tyseley

Birmingham B11 2AA

Page 4

Raedan Institute

Statement of financial activities

For the year ended 31 March 2022

Unrestricted
funds
Notes
£
Incoming resources
Incoming resources from generating funds:
Voluntary income
2
135,591
Investment income
3
-
Incoming resources from charitable activities
4
32,112
Total incoming resources
167,703
Resources expended
Staff costs
5
34,867
Establishment costs
29,616
Motor and travelling expenses
163
Accountancy fees
2,200
Legal and professional fees
-
Communications and IT
6,195
Other office expenses
2,645
Educational costs
61,730
Total resources expended
137,416
Total funds brought forward
4,262
Total funds carried forward
34,549		 2022
Total
£
135,591
-
32,112
167,703
34,867
29,616
163
2,200
-
6,195
2,645
61,730
137,416
4,262
34,549		 2021
Total
£
61,160
6,436
71,516
139,112
20,878
55,540
427
600
6,960
3,171
4,607
42,863
135,046
196
4,262

The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 5

Raedan Institute

Balance sheet as at 31 March 2022

Notes
Fixed assets
Tangible assets
6
Investments
7
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling
due within one year
9
Net current liabilities
Total assets less current
liabilities
Creditors: amounts falling due
after more than one year
10
Net assets
Funds
11
Unrestricted income funds
Total funds		 2022
£
£
46,283
55,654
101,937
2,000
1,352
3,352
)
(70,740
)
(67,388
34,549
-
34,549
34,549
34,549		 2021
£
£
11,692
55,654
67,346
2,000
5,091
7,091
)
(21,425
)
(14,334
53,012
)
(48,750
4,262
4,262
4,262

The financial statements were approved by the trustees on 19 January 2023 and signed on its behalf by

Mohamed Sidat (chairman) Trustee

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 6

Raedan Institute

Notes to financial statements for the year ended 31 March 2022

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1. Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 1993.

1.2. Cashflow

The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.

1.3. Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

Income from investments is included in the year in which it is receivable.

1.4. Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

Page 7

Raedan Institute

Notes to financial statements

for the year ended 31 March 2022

1.5. Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Leasehold properties

1.6. Investments

Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities.

2. Voluntary income

Unrestricted
funds
£
Donations
103,815
Student fees
31,776
135,591		 2022
Total
£
103,815
31,776
135,591		 2021
Total
£
44,052
17,108
61,160

3. Investment income

Other investment income 2022
Total
£
-
-		 2021
Total
£
6,436
6,436

4. Incoming resources from charitable activities

Unrestricted
funds
£
Grants
32,112
32,112		 2022
Total
£
32,112
32,112		 2021
Total
£
71,516
71,516

Page 8

Raedan Institute

Notes to financial statements for the year ended 31 March 2022

5. Employees
Employment costs 2022 2021
£ £
Wages and salaries 34,867 20,887
Other costs - (9 )
34,867 20,878
No employee received emoluments of more than £60,000 (2021 : None).
Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of
full time equivalents, was as follows:
2022 2021
Number Number
Long
6. Tangible fixed assets leasehold
property Total
£ £
Cost
At 1 April 2021 11,692 11,692
Additions 34,591 34,591
At 31 March 2022 46,283 46,283
Net book values
At 31 March 2022 46,283 46,283
At 31 March 2021 11,692 11,692
Other
7. Fixed asset investments unlisted
investments Total
£ £
Valuation
At 1 April 2021 and
At 31 March 2022 55,654 55,654
Historical cost as at 31 March 2022 - -

All fixed asset investments are held within the United Kingdom.

Page 9

8. Debtors

8. Debtors
2022 2021
£ £
Other debtors 2,000 2,000
9. Creditors: amounts falling due
within one year 2022 2021
£ £
Other loans 70,140 20,825
Accruals and deferred income 600 600
70,740 21,425
10. Creditors: amounts falling due
after more than one year 2022 2021
£ £
Bank loan - 48,750
11. Analysis of net assets between funds
Unrestricted Total
funds funds
£ £
Fund balances at 31 March 2022 as represented by:
Tangible fixed assets 46,283 46,283
Investment assets 55,654 55,654
Current assets 3,352 3,352
Current liabilities (70,740 ) (70,740 )
34,549 34,549
12. Unrestricted funds At At
1 April Incoming Outgoing 31 March
2021 resources resources 2022
£ £ £ £
Leasehold property 11,692 34,591 - 46,283
Investments 55,654 - - 55,654
Current assets 7,091 - )
(3,739		 3,352
Current liabilities (21,425 ) - )
(49,315		 )
(70,740
Long term loan (48,750 ) 48,750 - -
4,262 83,341 )
(53,054		 34,549

Raedan Institute

The following pages do not form part of the statutory accounts.

Raedan Institute

Detailed statement of financial activities

For the year ended 31 March 2022

2022 2021
£ £ £ £
Incoming resources
Incoming resources from generating funds:
Voluntary income
Donations 103,815 44,052
Student fees 31,776 17,108
135,591 61,160
Investment income
Other investment income - 6,436
- 6,436
Total incoming resources from generating funds 135,591 67,596
Incoming resources from charitable activities
Grants 32,112 71,516
32,112 71,516
Total incoming resources 167,703 139,112
Resources expended
Costs of generating funds:
Fundraising trading:
cost of goods sold and other costs

Page 11

Raedan Institute

Detailed statement of financial activities

For the year ended 31 March 2022

2022 2021
£ £
Charitable activities
Direct costs
Educational costs 61,730 42,863
61,730 42,863
Direct costs total expenditure 61,730 42,863
Total charitable activity expenditure 61,730 42,863
Governance costs
Activities undertaken directly
Staff costs - Wages & salaries 34,867 20,887
Staff costs - Other - (9 )
Establishment - Rent 22,600 46,382
Establishment - Rates & water 591 954
Establishment - Light & heat 5,181 3,570
Establishment - Repairs & maintenance - 2,027
Establishment - Insurance 1,163 2,050
Establishment - Cleaning 81 557
Motor vehicle expenses 163 427
Professional - Accountancy fees 2,200 600
Professional - Legal fees - 2,194
Professional - Other - 4,766
Office expenses - Communication & IT 6,195 3,171
Office expenses - Printing, postage & stationery 26 1,238
Bank charges 17 21
Office expenses - Advertising 2,602 3,348
75,686 92,183
Total governance costs 75,686 92,183
Net incoming/(outgoing) resources for the year 30,287 4,066

Page 12