Accounts
BURY PARK EDUCATIONAL INSTITUTE
Reports and Accounts
For the Year Ended
31 August 2023
Charity number 1118199
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BURY PARK EDUCATIONAL INSTITUTE
Contents
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Trustees’ Report & Statement of responsibilities | 2to4 | |
| Independent Examiner Report | 5 | |
| Statement of Financial Activities | 6 | |
| Balance Sheet | 7 | |
| NotestotheAnnualAccounts | 8to | 10 |
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BURY PARK EDUCATIONAL INSTITUTE
Reference and Administrative Details
Trustees
Mr Abul Hussain Chairman Mr Ahmed Quazi Trustee Mufti Mohammed Abdul Hannan Trustee Mr Jainul Islam Choudhury Trustee Mr Muhammad Azizul Haque Trustee Mr Mohammed Sanaul Gazi Trustee
Principal Office 82-86 Dunstable Road Luton Bedfordshire LU1 1EH Charity Registration Number 1118199 Bankers Lloyds Bank 60 George Street Luton Beds LU1 2BB Independant Examiner M Akramul Haque HA Accountants 26 Leagrave Road Luton LU4 8HZ
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BURY PARK EDUCATIONAL INSTITUTE The report of the trustees for the year ended 31 August 2023
The trustees present their annual report and accounts for the year ended 31 August 2023.
Objectives and Activities
Charitable Objectives.
The Charitable trust is governed by the Trust Deed executed on November 2006.
Aims of Charity
The objectives of the Trust set by the Trust Deed is to advance the academic as well as Islamic education and providing facilities to learn and practice Islam according to the Holy Quran and Ahadith and within the bounds of Ahle-Sunna Wal Jamaat.
The primary aim of the Charity is to provide an Islamic based education for the children.
Objectives for the year.
During this year the charity sought to:
-Further improve awareness of it's existence, facilities and services offered. -Continue to increase the number of students.
- -To continually enhance the facilities provided.
-To recruit the best quality teachers within the budgetary constraints and to ensure all teachers are kept up to date in in their respective fields. -To develop and enhance the educational curriculum.
Public benefit statement
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit published by the Charity Commission for England & Wales.
Achievements and Performance
-The Charity continued to improve facilities available to students. - Raised standards, facilitating improved GCSE results.
Financial Review
During the year the charity's income was £891,238 (2022: £989,124) and after expenditure of £923,589 (2022: £1,225,208) the carry forward reserves stood at -£1,546,527 (2022: - £1,514,176).
Reserves policy
The Trustees have resolved to establish over the next few years reserves to provide for future activities, and to provide funding for the expected expenditure for six months ahead. Current reserves are adequate based on our knowledge and experience.
Principal funding source
The principal income was generated through the provision of education in accordance with the objectives of the charity. The principal expenditure related to the cost of providing education.
Plans for future periods
The Charity will also continue to look at options to diversify in delivering the aims and objectives of the Trust.
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BURY PARK EDUCATIONAL INSTITUTE The report of the trustees for the year ended 31 August 2023
Structure, Governance and Management
Nature of the Governing Documents
The Charity is an unincorporated association governed by a trust deed. Eligibility for membership of the charity, and membership of the board of trustees is governed by the trust deed. There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.
Recruitment and appointment of new trustees
New Trustees are appointed by invitation based upon the specific requirements and the skill set needed by the charity to help advance the charitable objectives.
Induction and training of trustees.
We have at the moment no policy or procedure for the training of trustees, other than the "do's and don'ts" publication provided by the charity.
Organisational structure and management.
Trustees meet regularly on a monthly basis to discuss and plan objectives and implementation thereof. Matters of general concern are raised with all members. Day to day management and responsibility for implementing policies is carried out by Head Teacher. There are 8 full time and 5 part time employees plus a number of volunteers and employment trainees.
Related parties
Other than the Trustees and those persons connected with them there are no individuals who are related parties. Details of transactions with related parties are shown in the notes to the accounts. This includes remuneration and expenses paid to Trustees.
Risk Management
The trustees acknowledge their responsibilities for establishing a risk management system and satisfield that appropriate systems and procedures are under development and continue to keep the strategic, business and operational risk under review with view to introducing, where necessary, additional procedures to mitigate these risks.
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BURY PARK EDUCATIONAL INSTITUTE The report of the trustees for the year ended 31 August 2023
Statement of Trustees’ Responsibilities
The Trustees are resonsible for preparing the trustees’ report and the financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP
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make judgements and estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act.
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.
This report was approved by the board of trustees on 17/06/2024
AtyO— Mr Abul Hussain Chairman
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Independent Examiners Report on the Accounts
Report to the trustees/members of: BURY PARK EDUCATIONAL INSTITUTE On accounts for the year ended: 31 August 2023 Charity no 1118199 Set out on pages: 6 to 10
| report to the trustees on my examination of the accounts of the above charity for the year ended 31st August 2023.
Responsibilites and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act’).
| report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
The charity’s gross income exceeded £250,000 and | am qualified to undertake the examination by being a member of Institute of Financial Accountants
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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The accounting records were not kept in accordance with section 130 of the Charities Act; or
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The accounts did not accord with the accounting records; or
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- The accounts did 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.
| 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.
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Signed) of Fv Date: FA Rs! eyae
Name: Mh wai /l Akan.) lg Ve
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BURY PARK EDUCATIONAL INSTITUTE
Statement of Financial Activities For the Year Ended 31 August 2023
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|---|---|---|---|---|---|---|
|Last|Year|
|Unrestricted|Total|
|Notes|funds|Total|Funds|Funds|
|2023|2022|
|£|£|£|
|Income|and|Endownments|from|
|Donations|and|legacies|43.260|43,260|13.393|
|ae ae|
|877,978|877,978|975,731|
|eS|SS|
|Total|incoming|resources|-|891,238|891,238|989,124|
|RESOURCES|EXPENDED|
|Cost of charitable activities|918,909|918,909|1.220.048|
|Governance costs|4,680|4,680|5.160|
|EE|PSs|
|Total|resources|expended|3|923,589|923,589|1,225,208|
|Net movement|in|funds|aaet|aati|eal,|
|Total|funds|brought forward|(1,514,176)|(1,514,176)|(1,278,092)|
|SS|nll|
|Total funds|carried forward|(1,546,527)|(1,546,527)|(1,514,176)|
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The net movement in funds referred to above is the net incoming resources as defined in the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commission for Engtand & Wales and is reconciled to the total funds as shown in the Balance Sheet on page 7 as required by the said statement.
All activities derive from continuing operations
The notes on pages 8 to 10 form an integral part of these accounts
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BURY PARK EDUCATIONAL INSTITUTE BALANCE SHEET
As at 31 August 2023
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|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|Notes|£|=|
|The|assets|and|liabilities|of the|chartty:|
|Fixed|Assets|
|Tangible|assets|5|1,043,596|1,073,838|
|Total fixed assets|1,043,596|1,073,838|
|Current|Assets|
|Cash|at|bank|and|in|hand|21,663|8,275|
|A|21,663A|SLtine8,275Sie Le|
|Creditors:|amounts|falling|due|
|within one year|6|(274,172)|(354.1 18)|
|Net Current Assets|(252.509)|(345,843)|
|Total|assets|less|current|liabilities|791,087|727,995|
|Creditors:|amounts|falling|due|
|after|more than|one|year|v4|(2,337,614)|(2,242,171)|
|Total|we ae|i|ee|
|Net Assets|(1,546,527)|(1,514,176)|
|The|funds|of the|charity:|
|Unrestricted|income|funds|9|(1,546,527)|(1,514,176)|
|Total|EE|ll|a|
|charity funds|(1,546,527)|(1,514,176)|
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Approved by the board of trustees on 17 June 2024
: . 4] Rg b Mr Abul Hussain Chairman
The notes on pages8 to 10 form an integral part of these accounts.
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NotesBURY PARKto the Accounts EDUCATIONAL INSTITUTE ‘ For the Year Ended 31 August 2023
1 Accounting policies
Statement of compliance These accounts have been prepared in accordance with 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 2015)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2044 Basis of preparation The Charity meets the definition of public benefit entity under FRS 102, Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise Stated in the relevant accounting policy notes Exemption from preparing a cash flow statement The Charity opted to eariy adopt Bulletin 1 published on 2 February 2016 and therefore not included a cash fiow statement in these accounts Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as @ going concern
Income and endowments.
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured
Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees annual report
EXPENDITURE AND LIABILITIES
Liability Recognition
Liabilities are recognised where it is more likely than not there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Governance costs Include costs of the preparation and examination of Statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Fixed assets and depreciation All tangible fixed assets are capitalised if they can be used for more than one year and are stated at cost less depreciation. Items of less than £1000 are not capitalised. Depreciation has been provided at the following rates in order to write off the assets (less their estimated residual value) over their estimated useful economic lives. Land & Buildings 2% straight line Plant & Machinery 25% reducing balance Motor Vehicles 25% reducing balance A regular annual review of the likelinood of asset impairment is undertaken. Taxation The charity is exempt from corporation tax on its charitable activities.
Funds stucture policy
The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Restricted funds can only be used for particular restricted purposes within the objects of the charity,
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BURY PARK EDUCATIONAL INSTITUTE
Notcs to the Accounts For the Year Ended 31 August 2023
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|---|---|---|---|---|---|---|---|---|
|2|Incoming|resources|2023|2022|
|&|£|
|Voluntary|income|
|General|Donations|13,260|13,393|
|13,260|13,393|
|Charitable|Activities|
|Fees|875,803|975,615|
|Grants|675|116|
|Other|1,500|0|
|877,978|975,731|
|3|Resources|expended|2023|2022|
|Charitable|activities:|£|£|
|Education|
|Staff Cost|699,969|887,377|
|Contractors|§2,330|108,273|
|Ofsted|&|Exam|Fees|29.995|31,131|
|Events|&|Activities|2,883|6,185|
|Materials|&|Teaching|Aids|_|297?|__-|7,240|
|Premises|Cost|788,154|1.040.206|
|Non|Domestic &|Water|Rates|4,441|15,661|
|Cleaning|1,446|5,349|
|Light|&|Heat|25,260|23,255|
|Repairs|&|Maitenance|BA|24,986|
|Administrative|expenses|7|31,988|69,251|
|Telephone|4.165|4.154|
|Bank|Charges|1,019|1,308|
|Equipment|Hire|16,878|6,651|
|Health|and|Safty|Costs|820|4.418|
|Insurance|14,682|1,720|
|IT|&|Software|3/677.|3,720|
|Stationery|and|Printer Supplies|17,564|30,680|
|Subcriptions,|Fees|&|Compliance|438|627|
|Depreciation|30,242| 38,071|
|Support|[Cost]||89,486|7|91,349|
|Staff Training|&|Welfare|0|3,776|
|Advertising|2,366,|,|2,633|
|Others|2,366|6,409|
|Sport|&|PE|0|2.640|
|Sundry|Expenses|0|1,502|
|Consultancy fees|225|3,321|
|Other|Legal|and|Professional|1,367|)|
|Motor|Expenses|346|346|
|Interest|«4,988|5,024|
|6,926|___12,833|
|918,909|1,220,048|
|Governance|costs:|
|Accountancy/|Internal|Examiner|4,680|5,160|
|4|Staff Costs|and|Emoluments|2023|2022|
|£|£|
|Gross|Salaries|672,794|836,896|
|Employer's|National|Insurance|25,106|43,199|
|Employers|Pension|2069|7282|
|699,969|887,377|
|Numbers|of full|time employees|or|full|time equivalents|2023|2022|
|£|‘a|
|Engaged|on|charitable|activities|57|60|
|Administration|&|5|
|There|were|no fees|or other remuneration|paid|to the|trustees|
|There|were|no employees|with|emoluments|in|excess|of £60,000|per annum|
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BURY PARK EDUCATIONAL INSTITUTE
Notes to the Accounts
;
For the Year Ended 31 August 2023
5 Tangible fixed assets
| Freehold | Plant | Motor | ||
|---|---|---|---|---|
| Property | & Machinery | &Vehicles | Total | |
| £ | £ | |||
| Asset cost, valuation or revalued amount | ||||
| Bal B/fwd Additions At 31 August 2022 |
1,287,665 0 1,287 665 |
127,058 oO 127,058 |
23,350 0 23,350 |
1,438,073 0 1,438,073 |
| Accumulated depreciation and impairment | provisions | |||
| Bal B/fwd | 231,780 | 113,320 | 19,135 | 364,235 |
| Charge for the year | 25,753 | 3,435 | 1,054 | 30,242 |
| At 31 August 2022 | 257,533 | 116,755 | 20,189 | 394 477 |
| Net book value | ||||
| Bal B/fwd | 1,055,885 | 13,738 | 4,215 | 1,073,838 |
| At31August2022 | 1,030,132 | 10,303 | 3,161 | 1,043,596 |
All assets are used for charitable purposes.
| 6 | Creditors: amounts falling due within one year | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Trade creditors | 274.172 | 354,118 | |
| 274,172 | 354.118 | ||
| 7 | Creditors: Amounts falling due after one year | 2023 | 2022 |
| £ | £ | ||
| Bank Loan | 79,695 | 110,307 | |
| Other Loans | 2,257,919 | 2,131,864 | |
| 2,337,614 | 2,242,171 | ||
| Qarze Hasna is unsecured and interest free money loaned to the charity bymembersof fixedrepaymentterms. |
the publicwith no |
| 8 | Analysis ofthe NetMovement in Funds | 2023 | 2022 | |||
|---|---|---|---|---|---|---|
| E | £ | |||||
| Net movement in funds from Statement ofFinancial Activities | -32,351 | -236,084 | ||||
| Netmovement in funds availablefor future activities | -32,351 | -236,084 | ||||
| 9 | NetAssets by fund | Unrestricted | Restricted | Total Funds | Total Funds | |
| funds | funds | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| Tangible Fixed Assets | 1,043,596 | - | 1,043,596 | 1,073,838 | ||
| Current Assets | 21,663 | - | 21,663 | 8,275 | ||
| Current Liabilities | -274,172 | - | -274,172 | -354,118 | ||
| LongTerm Liabilities | -2,337,614 | - | -2,337,614 | -2,242,171 | ||
| 1,546,527 | 0 | -1,546,527 | -1,514,176 |
10 Related Party Transactions
No fee or expenses were paid to trustees or persons connected with them
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