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2023-08-31-accounts

COMPANY REGISTRATION NUMBER: 05889208 CHARITY REGISTRATION NUMBER: 1119056

Jamia Al-Karam

Company Limited by Guarantee Unaudited Financial Statements 31 August 2023

K B M UK LIMITED

Chartered Certified Accountants 1 Concord Business Centre

Concord Road

London UK W3 OTJ

Jamia Al-Karam

Company Limited by Guarantee

Financial Statements

Year ended 31 August 2023

Page
Trustees' annual report (incorporating the director's report) 1
Independent examiner's reportto the trustees 5
Statement of financial activities (including income and
expenditure account) 7
Statement of financial position 8
Statement of cash flows 10
Notestothefinancialstatements 11

Jamia Al-Karam

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 31 August 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.

Reference and administrative details

Registered charity name Jamia Al-Karam

Charity registration number 1119056 Company registration number 05889208 Principal office and registered Eaton Hall office Retford Nottinghamshire DN22 0PR

The trustees

Mr M IH Pirzada Mrs G Fatima Mr | Hussain Mr ABG Ali Mr. Bakhtyar H Pirzada (Appointed 8 October 2022)

Company secretary

B.H. Pirzada

Independent examiner Mr. Mohammad Afzaal Bhatti For and on behalf of K B M UK Ltd 1 Concord Business Centre Concord Road London UK W3 OTJ

Structure, governance and management

Governing document

The Jamia Al-Karam is a company limited by guarantee goverened by its Memorandum and Articles of Association dated 27 July 2006. It is registered as a charity with the Charity Commission.

Appointment of trustees

The first trustees shall be the subscribers to the Memorandum of the Charity. The number of trustees shall not be less than three and shall not be more than fifteen. The board may appoint a person who meets the criteria set out in the Articles of Association, and who is willing to act to be trustee, by a resolution of the Board passed by a majority of not less than three quarters of the trustees present and voting at the meeting of the board.

6 Te

Jamia Al-Karam

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continueg)

Year ended 31 August 2023

Structure, governance and management (continued)

Organisation

The trustees of the charity are legally responsible for the overall management of Jamia Al-Karam. The day to day running of the educational institution is led by the founder and trustee, Mr M | H Pirzada, who delegates tasks and responsibilities to members of staff. In the case of a dispute at trustee meeting, the decision is made by a majority vote. lf the number of votes is equal, Mr M | H Pirzada has a casting vote.

Related parties

The charity has a close relationship with Jamia Al-Karam: Islamic Education and Cultural Trust the charity which holds the freehold of the premises the school operates from. Mr M. |. H. Pirzada is also trustee of that charity.

The Muslim Charity: Helping the Needy give donations to the charity. It is also a related party of which Mr M. |. H. Pirzada is trustee and the founder.

On 31st December 2020, the land and buildings forming the school were leased for 5 years from the Jamia Al-Karam Islamic Educational and Cultural Trust, for an annual rent of £4,000. The charity shall be responsible for the maintenance and insurance of the school.

Risk Management

The trustees of Jamia Al-Karam are responsible for the management of risks faced by the charity. Senior members of management have conducted a review of some of the risks that the charity may be exposed to. A risk register has been established and is reviewed on an annual basis. Where appropriate, procedures have been put into place to mitigate the risks.

As far as the premises owned and occupied by Jamia Al-Karam are concerned, a detailed and thorough fire risk assessment and a health and safety risk assessment have been conducted by a competent company and a complete report provided. Procedures are in place to control and minimize the risks in those specific areas. All such assessments are reviewed on an annual basis.

Dis

Jamia Al-Karam

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2023

Objectives and activities

The objectives of the charity are:

To promote the faith of Islam and Islamic charitable institutions in the United Kingdom and overseas, in particular, but without prejudice to the generality of the foregoing, by:

  1. The advancement of the Islamic Faith;

  2. The advancment of education and in particular the provision of schools for Muslim children and the education and training of muslim Scholars and the provision of Muslim education in men and women;

  3. The relief of the infirm, aged, poor and needy;

  4. Such other purposes that are charitable in English Law which further the faith of Islam.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

Over the past years, the charity has been able to increase its fundraising activities and thereby funds have gone up, with a good balance in place, and so it is able to cover the small operating loss of this financial year. The increase in funding and funds has been due to more engagement with donors in activities as well as better online donation portals. The campaigning during the month of Ramadan in the Muslim calendar has given an important opportunity to provide feedback of the educational and positive community work carried out by the charity as well as better fundraising. With increased funding, the campus itself has seen development and gradual refurbishment. The educational courses are consistently progressing with many graduates now serving their local communities as chaplains, Imams, school teachers and professionals. Curriculum at the college remains to be firmly balanced in providing faith based education in a citizenship-centred framework so that students better understand their faith identity as well as British identity, so they are able to lead the communities they serve in a positive manner conducive to the common good. Support continues to exist and increase within the community for the charity and its educational and cultural projects

Financial review

This is the fifteen year that the charity has run a boarding educational institution.

There was an operating loss of £48,351 for the year. The restricted funds are £Nil and the unrestricted funds are in surplus by £814,306.

Total incoming resources for the year, including the donations, totalled £573,892.

me

Jamia Al-Karam

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2023

The trustees’ annual report and the strategic report were approved on PrN 282... and signed on behalf of the board of trustees by:

Mr MIH Pirzada Trustee

aA

Jamia Al-Karam

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Jamia Al-Karam

Year ended 31 August 2023

| report to the trustees on my examination of the financial statements of Jamia Al-Karam (‘the charity’) for the year ended 31 August 2023.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or 3. _ the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts givea ‘true and fair' view which is not a matter considered as part of an independent examination; or

  3. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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Jamia Al-Karam

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Jamia Al-Karam (continueq)

Year ended 31 August 2023

| 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.

Mr. Mohammad Afzaal Bhatti

For and on behalf of KBM UK Ltd Independent Examiner

1 Concord Business Cenire Concord Road London UK W3 OTJ

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Jamia Al-Karam

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 August 2023

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2023|2022| |Unrestricted| |funds|Totalfunds|Total|funds| |Note|£|£|£| |Income|and|endowments| |Donations and|legacies|5|403,719|403,719|436,583| |Charitable|activities|6|170,173|170,173|156,046| |Total|income|573,892|573,892|592,629| |Expenditure| |Expenditure|on|raising|funds:| |Costs|of|raising|donations|and|legacies|7|6,215|6,215|6,500| |Expenditure|on|charitable|activities|8,9|616,028|616,028|519,389| |Total|expenditure|622,243|622,243|525,889| |Net (expenditure)/income and|net movement|in funds|(48,351)|(48,351)|66,740| |Reconciliation|of|funds| |Total|funds brought forward|862,657|862,657|795,917| |Total funds carried|forward|814,306|814,306|862,657|

----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 11 to 18 form part of these financial statements.

ee

Jamia Al-Karam

Company Limited by Guarantee

Statement of Financial Position

31 August 2023

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |Note|£|£|=| |Fixed|assets| |Tangible|fixed|assets|14|311,336|365,710| |Current|assets| |Debtors|15|26,982|19,139| |Cash|at|bank|and|in|hand|516,079|523,358| |543,061|542,497| |Creditors:|amounts|falling|due within|one year|16|40,091|38,250| |Net|current|assets|502,970|504,247| |Total|assets|less|current|liabilities|814,306|869,957| |Creditors:|amounts|falling|due|after|more|than| |one|year|17|-|7,300| |Net|assets|814,306|862,657| |Funds|of the|charity| |Unrestricted|funds|814,306|862,657| |Total|charity funds|19|814,306|862,657|

----- End of picture text -----

For the year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The statement of financial position

continues on the following page.

The notes on pages 11 to 18 form part of these financial statements.

«Bs

Jamia Al-Karam

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 August 2023

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2023|2022| |£|£| |Cash|flows from|operating|activities| |Net|(expenditure)/income|(48,351)|66,740| |Adjustments|for:| |Depreciation|of tangible|fixed|assets|104,266|103,019| |Government grant|income|-|(2,150)| |Interest|payable|and|similar|charges|6,210|6,096| |Accrued|income|=|(16,500)| |Changes|in:| |Trade|and|other|debtors|{7,843)|2,712| |Trade|and other creditors|(5,459)|(85,019)| |Cash|generated|from|operations|48,823|74,898| |Interest|paid|(6,210)|(6,096)| |Net cash|from|operating|activities|42,613|68,802| |Cash|flows|from|investing|activities| |Purchase|of tangible|assets|(49,892)|(73,300)| |Net cash|used|in|investing|activities|(49,892)|(73,300)| |Cash|flows|from|financing|activities| |Government grant|income|-|2,150| |Net|cash|from|financing|activities|-|2,150| |Net decrease|in|cash|and|cash|equivalents|(7,279)|(2,348)| |Cash|and|cash|equivalents|at|beginning|of|year|523,358|525,706| |Cash|and|cash|equivalents|at end|of|year|516,079|523,358|

----- End of picture text -----

The notes on pages 11 to 18 form part of these financial statements.

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Jamia Al-Karam

Company Limited by Guarantee Statement of Financial Position (continuea)

31 August 2023

These financial statements were approved by the board of trustees and authorised for issue on ee ee and are signed on behalf of the board by:

Mr M IH Pirzada Trustee

The notes on pages 11 to 18 form part of these financial statements.

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Jamia Al-Karam

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 August 2023

  1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Eaton Hall, Retford, Nottinghamshire, DN22 OPR.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

  1. Accounting policies

Basis of preparation

As at 31st August 2023, the Charitable Company's balance sheet shows net current assets of £502,970. The principal accounting policies adopted in the preparation of the financial statements are set out below.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Student Fee Income

Fee income is attributed to the period into which it relates.

Voluntary Income

Voluntary income is accounted for in the period in which the charity is entitled to receipt, unless expressly specified otherwise by the donor.

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Jamia Al-Karam

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 August 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

All the expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.

Costs of generating funds are those incurred in seeking voiuntary contributions. Costs of charitable activities are those costs incurred directly in support of expenditure on the objectives of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with the constitutional and statutory requirements.

Depreciation

Depreciation has been computed to write off the cost of fixtures and fittings and equipments over their expected useful lives using 15% per annum of net book value and to write off the cost of leasehold improvements over their expected useful life using 10% per annum of cost.

Operating leases

Rentals applicable to operating leases are charged to the SOFA over the period in which the cost is incurred.

Tangible assets

All fixed assets are initially recorded at cost.

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Jamia Al-Karam

Company Limited by Guarantee Notes to the Financial Statements (continueg)

Year ended 31 August 2023

3. Accounting policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property - 10% straight line Fixtures & Fittings - 15% reducing balance Equipment - 15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.

Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised asa liability.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Bix

Jamia Al-Karam

Company Limited by Guarantee

Notes to the Financial Statements (continueg

Year ended 31 August 2023

3. Accounting policies (continued)

Financial instruments (continued)

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For alt equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The charity is company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ 2 £ £
Donations
Donations 403,719 403,719 434,433 434,433
Grants
Government grantincome - al 2,150 2,150
403,719 403,719 436,583 436,583 _

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Jamia Al-Karam

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 August 2023

6. Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Student fees 150,373 150,373 135,396 135,396
Rent Received 19,800 19,800 20,650 20,650
170,173 170,173 156,046 156,046
7. Costs of raising donationsand legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Costs of raising donations and legacies
- Donations 6,215 6,215 6,500 6,500
8. Expenditureon charitable activities byfundtype
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
CharitableActivities 595,782 595,782 485,511 485,511
Support costs 20,246 20,246 33,878 33,878
616,028 616,028 519,389 519,389
9. Expenditure on charitable activitiesby activitytype
Activities
undertaken Totalfunds Total fund
directly Support costs 2023 2022
£ £ £ £
Charitable Activities
Governance costs		 595,782
-		 -
20,246		 595,782
20,246		 485,511
33,878
595,782 20,246 616,028 519,389
10. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2023 2022
£ Ce
Depreciation oftangible fixed assets
Operatingleaserentals		 104,266
4,000		 103,019
4,000

«45's

Jamia Al-Karam

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2023

11. Independent examination fees

2023 2022
£ £
Fees payable to the independentexaminer for:
Independent examination ofthe financial statements 1,200 1,200
Other financial services 4,986 2,445
6,186 3,645

12. Staff costs

The average head count of employees during the year was 12 (2022: 11). The average number of full-time equivalent employees during the year is analysed as follows:

Number of employees

----- Start of picture text -----
2023 2022
No. No.
12 11
----- End of picture text -----

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

13. Trustee remuneration and expenses

The Trustees received no remuneration or expenses for acting as trustees. During the year the total of expense reimbursed to the trustees, incurred in the course of acting as members of the charity, amounted to £Nil.

14. Tangible fixed assets

Long

Long
leasehold Fixtures and
property fittings Equipment Total
£ £ £ £
Cost
At 1 September 2022 829,706 233,628 242,636 1,305,970
Additions 49,892 - = 49,892
At 31 August 2023 879,598 233,628 242,636 1,355,862
Depreciation
At 1 September 2022 605,323 220,641 114,296 940,260
Charge for the year 83,067 1,948 19,251 104,266
At 31 August2023 688,390 222,589 133,547 1,044,526
Carrying amount
At 31 August 2023 191,208 11,039 109,089 311,336
At 31August2022 224,383 12,987 128,340 365,710

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Jamia Al-Karam

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2023

15. Debtors
2023 2022
£ £
Prepayments and accrued income 25,469 17,266
Otherdebtors 1,513 1,873
26,982 19,139
16. Creditors: amountsfalling duewithinoneyear
2023 2022
£ £
Trade creditors 26,257 24,251
Accruals and deferred income 3,645 3,645
Social security and other taxes 812 755
Other creditors 9,377 9,599
40,091 38,250
17. Creditors:amounts falling due after morethan one year
2023 2022
£ £
Other creditors - 7,300
18. Government grants
Theamounts recognised in the financial statements forgovernment governmentgrants grants are asfollows:
2023 2022
£ £
Recognised in income from donations and legacies:
Governmentgrants income _= 2,150
19. Analysis of charitablefunds
Unrestricted funds
At At
1 September 31 August 20
2022 Income Expenditure 23
£ £ £ £
Unrestricted Fund 862,657 573,892 (622,243) 814,306
At At
1 September 31 August20
2021 Income Expenditure 22
a 3 £ £
UnrestrictedFund 795,917 592,629 (525,889) 862,657

Pr

Jamia Al-Karam

Company Limited by Guarantee Notes to the Financial Statements (continuea)

Year ended 31 August 2023

20. Analysis of net assets between funds

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Total|Funds| |Funds|2023| |£|£| |Tangible|fixed|assets|311,336|311,336| |Current|assets|502,970|502,970| |Creditors|greater|than|1|year|-|-| |Net|assets|814,306|814,306| |Unrestricted|Total|Funds| |Funds|2022| |£|£| |Tangible|fixed|assets|365,710|365,710| |Current|assets|504,247|504,247| |Creditors|greater|than|1|year|(7,300)|(7,300)| |Net|assets|862,657|862,657| |21.|Financial|instruments| |The|carrying|amount|for each|category|of|financial|instrument|is as follows:| |2023|2022| |£|£| |Financial|assets|measured|at|fair|value through|income|and|expenditure| |Financial|assets|measured|at|fair|value|through|income|and| |expenditure|543,061|542,497| |22.|Analysis|of changes|in|net debt| |At| |At1 Sep 2022|Cash|flows|31|Aug 2023| |£|£|£| |Cash|at bank and|in|hand|523,358|(7,279)|516,079|

----- End of picture text -----

23. Related parties

On the 1st June 2007 the charity was granted a five years’ lease of property with annual rent of £2,000 and renewed on 31 December 2015 with same £2,000 rent belonging to Jamia Al-Karam Islamic Educational and Cultural Trust, a charity of which Mr M | H Pirzada is also trustee. On the same day, the activities of the boarding school, including the fixtures and fittings and equipment were transferred from that charity. This lease has been renewed on 31 December 2020 for a term of 5 years at the rent of £4,000 per annum.