REGISTERED CHARITY NUMBER: 1117268
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for Khidmah Academy
Khidmah Academy
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 11 |
| Detailed Statement of Financial Activities | 12 to 13 |
Khidmah Academy
Reference and Administrative Details for the Year Ended 31 March 2021
TRUSTEES Shah Munim Trustee Jahangir Alam Trustee Moulvi L Rahman Trustee Muhammed G Kibria Trustee PRINCIPAL ADDRESS 47 Vicarage Lane London E15 4HG REGISTERED CHARITY 1117268 NUMBER INDEPENDENT EXAMINER Quilfords Limited Chartered Certified Accountants 113 Romford Road London E15 4LY
Page 1
Khidmah Academy
Report of the Trustees
for the Year Ended 31 March 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objectives of the organisation are as follows:
-
Providing cultural & religious activities through evening & other classes
-
Providing other regular religious activities
FINANCIAL REVIEW
Funds
The charity received donations and income totalling £168,665 (2020: £88,559). After payments of outgoing expenses totalling £48,176 (2020: £73,754), the charity was left with a surplus of £120,489 (2020: £14,805) for the year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Approved by order of the board of trustees on 28 January 2022 and signed on its behalf by:
Shah Munim - Trustee
Page 2
Independent Examiner's Report to the Trustees of Khidmah Academy
Independent examiner's report to the trustees of Khidmah Academy
I report to the charity trustees on my examination of the accounts of Khidmah Academy (the Trust) for the year ended 31 March 2021.
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
-
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.
Askir Ali Quilfords Limited Chartered Certified Accountants 113 Romford Road London E15 4LY
28 January 2022
Page 3
Khidmah Academy
Statement of Financial Activities for the Year Ended 31 March 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.21 Unrestricted fund £ 154,215 5,245 9,205 168,665 48,176 120,489 45,113 165,602 |
31.3.20 Total funds £ 68,714 9,395 10,450 88,559 73,754 14,805 30,308 45,113 |
|---|---|---|
The notes form part of these financial statements
Page 4
Khidmah Academy
Balance Sheet 31 March 2021
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Cash at bank and in hand NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.3.21 Unrestricted fund £ 469,205 56,195 56,195 525,400 (359,798) 165,602 165,602 165,602 |
31.3.20 Total funds £ 4,088 41,025 41,025 45,113 - 45,113 45,113 45,113 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2022 and were signed on its behalf by:
Shah Munim - Trustee
Moulvi L Rahman - Trustee
The notes form part of these financial statements
Page 5
Khidmah Academy
Notes to the Financial Statements for the Year Ended 31 March 2021
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.
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.
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.
Page 6
continued...
Khidmah Academy
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 2. OTHER TRADING ACTIVITIES Tuition fees Nikah 3. INVESTMENT INCOME Rents received 4. RAISING FUNDS Raising donations and legacies Support costs |
31.3.21 £ 4,705 540 5,245 31.3.21 £ 9,205 31.3.21 £ 48,176 |
31.3.20 £ 8,905 490 9,395 31.3.20 £ 10,450 31.3.20 £ 73,754 |
|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 68,714 |
| Other trading activities | 9,395 |
| Investment income | 10,450 |
| Total | 88,559 |
| EXPENDITURE ON | |
| Raising funds | 73,754 |
| NET INCOME | 14,805 |
Page 7
continued...
Khidmah Academy
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|
| Unrestricted | ||
| fund | ||
| £ | ||
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 30,308 | |
| TOTAL FUNDS CARRIED | ||
| FORWARD | 45,113 | |
| 7. | TANGIBLE FIXED ASSETS |
| COST At 1 April 2020 Additions At 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 |
Freehold property £ - 466,139 466,139 - - - 466,139 - |
Fixtures and fittings £ 5,110 - 5,110 1,022 1,022 2,044 3,066 4,088 |
Totals £ 5,110 466,139 471,249 1,022 1,022 2,044 469,205 4,088 |
|---|---|---|---|
Page 8
continued...
Khidmah Academy
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.21 £ Bank loans (see note 9) 50,000 Other creditors 309,798 359,798 9. LOANS An analysis of the maturity of loans is given below: 31.3.21 £ Amounts falling due between two and five years: Bank loans - 2-5 years 50,000 10. MOVEMENT IN FUNDS Net movement At 1.4.20 in funds £ £ Unrestricted funds General fund 45,113 120,489 TOTAL FUNDS 45,113 120,489 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 168,665 (48,176) TOTAL FUNDS 168,665 (48,176) |
|
|---|---|
Page 9
continued...
Khidmah Academy
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.4.19 | in funds |
31.3.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 30,308 |
14,805 | 45,113 |
| TOTAL FUNDS 30,308 |
14,805 | 45,113 |
| Comparative net movement in funds, included in the above are as | follows: | |
| Incoming | Resources |
Movement |
| resources | expended |
in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 88,559 |
(73,754) | 14,805 |
| TOTAL FUNDS 88,559 |
(73,754) | 14,805 |
| A current year 12 months and prior year 12 months combined position is as follows: | ||
| Net | ||
| movement | At | |
| At 1.4.19 | in funds |
31.3.21 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 30,308 |
135,294 | 165,602 |
| TOTAL FUNDS 30,308 |
135,294 | 165,602 |
| A current year 12 months and prior year 12 months combined included in the above are as follows: Incoming resources £ Unrestricted funds General fund 257,224 TOTAL FUNDS 257,224 |
net movement in funds, Resources Movement expended in funds £ £ (121,930) 135,294 (121,930) 135,294 |
|---|---|
Page 10
continued...
Khidmah Academy
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 11
Khidmah Academy
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Zakat Job retention scheme grant Business rates grant Other trading activities Tuition fees Nikah Investment income Rents received Total incoming resources EXPENDITURE Support costs Management Wages Finance Card machine charges Other Rates Light and heat Telephone Sundries Rent Repairs and maintenance Council tax Advertising Subcontractor Website costs Fixtures and fittings |
31.3.21 £ 128,692 800 14,723 10,000 154,215 4,705 540 5,245 9,205 168,665 12,033 1,369 - 2,251 493 - 5,000 5,839 1,076 - 15,757 300 1,022 31,738 |
31.3.20 £ 68,714 - - - 68,714 8,905 490 9,395 10,450 88,559 25,800 - 1,812 3,043 291 2,799 24,000 11,738 1,036 1,913 - - 1,022 47,654 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12
Khidmah Academy
| Detailed Statement of Financial Activities for the Year Ended 31 March 2021 Other Governance costs Accountancy and legal fees Total resources expended Net income |
31.3.21 £ 3,036 48,176 120,489 |
31.3.20 £ 300 73,754 14,805 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 13