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2021-03-31-accounts

Ismail Sharif and Family Charitable Trust

Charity Number: 1113651

FINANCIAL STATEMENTS

31st MARCH 2021

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

CONTENTS

for the YEAR ended 31st MARCH 2021

Trust Information 1
Trustees’ Annual Report 2-3
Independent Examiner’s Report to the Trustees 4
Income and Expenditure Account 5
Balance Sheet 6
Notes to the Financial Statements 7
Detailed Income and Expenditure Account 8

Page 1

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

TRUST INFORMATION

for the YEAR ended 31st MARCH 2021

Charity Registration Number 1113651
Address 58 Chester Road
Forest Gate
London
E7 8QS
Bankers Barclays Bank PLC
The Newham Group
Business Banking
Leicester LE87 2BB
Accountants Y E Adam Accountancy Services
29 Byron Avenue
Manor Park
London E12 6ST
Trustees Mr I Sharif
Mrs Z Sharif
Mr N M Polli
Secretary Mr I Sharif

Page 2

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

TRUSTEES’ ANNUAL REPORT

for the YEAR ended 31st MARCH 2021

The Trustees have pleasure in presenting the Financial Statements of the Charity for the year ended 31st March 2021

LEGAL STATUS

Unincorporated trust, registered as a Charity (registration number 1113651).

CONSTITUTION AND OBJECTS

Ismail Sharif and Family Charitable Trust was constituted under a trust deed dated 1[st] March 2004.

The object of the trust is to relieve poverty and sickness, hardship and distress to human life in general in any part of the world through donations and/or provision of aid in the form of medical or food or in such manner as the trustees may determine from time to time.

To advance and promote education in any part of the world through donation, maintenance of building and/or through such means and manner as the trustees may determine from time to time.

OPERATION OF THE TRUST

The trustees who have served during the year are set out on page 1.

The charity operates by collecting donation from within United Kingdom and Europe and making donation to any part of the world.

The trustees are very grateful to the numerous volunteers who have helped the charity with their valuable time and to all the donors during the year.

RISK MANAGEMENT

The trustees have examined the major strategic, business and operational risks which the charity faces and believe that they have established systems to mitigate the risks

INVESTMENT POWERS AND RESTRICTIONS

The income, properties and all assets of the trust are applied by the trustees solely towards the aim and objects of the trust and to manage, improve and maintain all or any part of land and property of the trust or carry out new work as approved by the Trustees.

Page 3

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

TRUSTEES’ ANNUAL REPORT (cont….)

for the YEAR ended 31st MARCH 2021

TRUSTEES’ RESPONSIBILITIES

The law applicable to charities in England and Wales require the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's activities during the year and of its financial position at the end of the year.

In preparing these financial statements the trustees are required to: Select suitable accounting policies and apply them consistently.

Make judgements and estimates that are reasonable and prudent.

State whether applicable accounting standards and statements of recommended practice have been followed subject to any departure disclosed and explained in the financial statements

Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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 statement comply with the Charities Act 1993.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 irregularities.

Signed by the order of the Trustees

……………………………………..

I Sharif Secretary

Approved by the Trustees on 14 September 2022

Page 4

INDEPENDENT EXAMINER’S REPORT to the TRUSTEES of

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

for the YEAR ended 31st MARCH 2021

We report on the Accounts of the Charity for the year ended 31st March 2021 as set out on pages 5 - 8.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE 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 does not apply. It is our responsibility to state, on the basis of the procedures specified in the general directions given by the Charities Commissioners under section 47(7)(b) of the Act, whether particular matters have come to our attention.

BASIS OF INDEPENDENT EXAMINER’S REPORT

Our examination was carried out in accordance with the general directions by the Charities Commissioner. An independent examination includes a review of the Accounting Records kept by the Charity and a comparison of the Account presented and those Records. It also includes consideration of any unusual items or disclosures in the Account and seeking explanation from you as Trustees concerning any such matters.

The procedures undertaken do not provide all the evidence that would be required in Audit, and consequently we do not express an Audit opinion on the view given by the Accounts.

INDEPENDENT EXAMINER’S REPORT

In connection with our examination, no matter has come to our attention.

1 Which gives us reasonable cause to believe that in any material respect the the requirements.

2 to which, in our opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.

…………………………………..

Y E Adam ACCOUNTANT

14 September 2022

Page 5

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

INCOME AND EXPENDITURE ACCOUNT

for the YEAR ended 31st MARCH 2021

Note
Incoming Resources
Income Received
2
Less: Resources Expanded
Direct Charitable Expenditure
3
Net Incoming Resources for the Year
Total Funds Brought Forward
Total Funds Carried Forward		 2021
Unrestricted
Funds
37,779
19,935
17,844
9,223
27,067		 2020
Unrestricted		 2020
Funds
16,944
17,735
(791)
10,014
9,223

Page 6

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

----- Start of picture text -----
Balance Sheet
as at 31st MARCH 2021
Note 2021 2020
Current Assets:
Cash at Bank and in Hand 24,433 3,407
Debtors 2,634 5,816
27,067 9,223
Creditors:
Amounts falling due within one year - -
Net Current Assets 27,067 9,223
Net Assets 27,067
Reserve Funds 27,067 9,223
----- End of picture text -----

Approved on 14 September 2022 and signed on behalf of the Trustees.

..................................... I Sharif Trustee

Page 7

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

NOTES to the FINANCIAL STATEMENTS

for the YEAR ended 31st MARCH 2021

1 Accounting Policies Basis of Accounting:

These Accounts have been prepared in accordance with applicable accounting standards.

2
3		 Income Received
Donations
Gift Aid/Tax Refund
Direct Charitable Expenditure
Activities in furtherance of objects
Bank Charges
Administration
Independent Examiner's Fees		 2021
35,145
2,634
37,779
19,590
170
175
19,935		 2020
15,255
1,689		 2020
16,944
17,275
285
175
17,735

4 Related Party transactions

There were no related party transactions to disclose for 2021 (2020: None)

5 Taxation

The charity is exempt from the corporation tax as all its income is charitable and expended on charitable activities.

Page 8

ISMAIL SHARIF and FAMILY CHARITABLE TRUST

DETAILED INCOME AND EXPENDITURE ACCOUNT

for the YEAR ended 31st MARCH 2021

Incoming Resources
Donations
Gift Aid Tax Refunds
Charitable Expenditure
Darul Uloom Balapara India
Bank Charges
Independent Examiner's Fees
Net Income/(Deficit) for the Year		 2021
35,145
2,634
37,779
19,590
170
175
19,935
17,844		 2020
15,255
1,689		 2020
16,944
17,275
285
175
17,735
(791)