REGISTERED CHARiff NUMBER: 1117268 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Khidmah Academ
Khidmah Academ Contents of the Financial Statements for the Year Ended 31 March 2024 Page Reference and Administrative Details Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 11 Detailed Statement of Financial Activities 12
Khidmah Academ Reference and Administrative Details for the Year Ended 31 March 2024 TRUSTEES Shah Munim Trustee Jahangir Alam Tnjstee Moulvi L Rahman Trustee Muhammed G Kibria Trustee PRINCIPAL ADDRESS 47 Vicarage Lane London E154HG REGISTERED CHARITY NUMBER 1117268 INDEPENDENT EXAMINER Quilfords Limited Chartered Certified Accountants 113 Romford Road London E154LY Page 1
Khidmah Academ ort of the Tnjstees for the Year Ended 31 March 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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: 1. Providing cultural & religious activities through evening & other classes 2. Providing other regular religious activities FINANCIAL REVIEW Funds in surplus The charity received donations and income totalling £171,799 (2023: £140,225). After payments of outgoing expenses totalling £50,551 (2023: £58,871), the charity was left with a surplus of £121,248 (2023.. £81,354) 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. 2110112025 Approved by order of the board of trustees on and signed on its behalf Shah Munim - Trustee Page 2
Inde endent Examinerfs Re Khidmah Academ ort to the Trustees of Independent examinerfs 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 2024. 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 confim 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 fomi 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 2210112025 Date: .... Page 3
Khidmah Academ Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Unrestricted fund 31.3.23 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 157,349 127,055 Other trading activities 14,450 13,170 Total 171,799 140,225 EXPENDITURE ON Raising funds 50,551 58,871 NET INCOME 121,248 81,354 RECONCILIATION OF FUNDS Total funds brought forward 381,335 299,981 TOTAL FUNDS CARRIED FORWARD 502,583 381,335 The notes form part of these financial statements Page 4
Khidmah Academ Balance Sheet 31 March 2024 31.3.24 Unrestricted fund 31.3.23 Total funds Notes FIXED ASSETS Tangible assets 533,163 467.161 CURRENT ASSETS Cash at bank and in hand 166,444 49,197 NET CURRENT ASSETS 166,444 49,197 TOTAL ASSETS LESS CURRENT LIABILITIES 699,607 516,358 CREDITORS Amounts falling due after more than one year (197,024) (135,023) NET ASSETS 502,583 381,335 FUNDS Unrestricted funds 502,583 381,335 TOTAL FUNDS 502,583 381,335 The financial statements were approved by the Board of Trustees and authorised for issue on 2110112025 and were signed on its behalf by.. Shah Munim - Trustee Moulvi L Rahman - Trustee The notes fom part of these financial statements Page 5
Khidmah Academ Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial ststements 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 Practi 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 fijnds, 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 Academ Notes to the Financial Statements - continued for the Year Ended 31 March 2024 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Tuition fees Nikah 14,450 12,845 325 14,450 13,170 RAISING FUNDS Raising donations and legacies 31.3.24 31.3.23 Support costs 50,551 58.871 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 127,055 Other trading activities 13,170 Total 140,225 EXPENDITURE ON Raising funds 58,871 NET INCOME 81,354 RECONCILIATION OF FUNDS Total funds brought fOard 299,981 Page 7 continued...
Khidmah Academ Notes to the Financial Statements - continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted fund TOTAL FUNDS CARRIED FORWARD 381,335 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Totals COST At 1 April 2023 Additions 466,139 67,024 5,110 471,249 67,024 At 31 March 2024 533,163 5,110 538,273 DEPRECIATION At 1 April 2023 Charge for year 4,088 1,022 4,088 1,022 At 31 March 2024 5,110 5,110 NET BOOK VALUE At 31 March 2024 533,163 533,163 At 31 March 2023 466,139 1,022 467,161 Page 8 continued...
Khidmah Academ Notes to the Financial Statements - continued for the Year Ended 31 March 2024 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.24 31.3.23 Other creditors 197,024 135,023 MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 381,335 121,248 502,583 TOTAL FUNDS 381,335 121,248 502,583 Net movement in funds, included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestricted funds General fund 171,799 (50,551) 121,248 TOTAL FUNDS 171,799 50,551) 121,248 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 299,981 81,354 381,335 TOTAL FUNDS 299.981 81.354 381,335 Page 9 continued.
Khidmah Academ Notes to the Financial Statements - continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestricted funds General fund 140,225 (58,871) 81,354 TOTAL FUNDS 140,225 58,871) 81,354 A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 299,981 202,602 502,583 TOTAL FUNDS 299,981 202,602 502,583 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming reSoUrS Resources Movement expended in funds Unrestricted funds General fund 312,024 (109,422) 202,602 TOTAL FUNDS 312,024 109,422) 202,602 Page 10 continued...
Khidmah Academ Notes to the Financial Statements - continued for the Year Ended 31 March 2024 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page11
Khidmah Academ Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legacies Donations 157,349 127,055 Other trading activities Tuition fees Nikah 14,450 12,845 325 14,450 13,170 Total incoming resources 171,799 140,225 EXPENDITURE Support costs Management Wages 37,000 29,958 Finance Bank charges Card machine charges 211 1,247 158 1,335 1,458 1,493 Other Rates Light and heat Telephone Repairs and maintenance Council tax Subcontractor Event expenses Fixtures and fittings 192 5,663 347 6,614 102 5,369 1,192 12,774 1,266 3,950 1,022 1.022 12,093 27,420 Total resources expended 50,551 58,871 Net income 121,248 81,354 This page does not fomi part of the statutory financial statements Page 12