SLOUGH ISLAMIC SCHOOL PROJECT
SLOUGH ISLAMIC SCHOOL PROJECT ANNUAL REPORT AND ACCOUNTS
31 JANUARY 2020
CHARITY NUMBER: 1119531
- 1 -
Wisetax Accountants Ltd
SLOUGH ISLAMIC SCHOOL PROJECT
SLOUGH ISLAMIC SCHOOL PROJECT Accounts Year Ended 31 January 2020
Contents
| Contents | |
|---|---|
| Page | |
| Trustees’ Annual Report | 4 |
| Independent examiner’s report to the trustees | 6 |
| Statement of financial activities | 8 |
| Balance Sheet | 9 |
| Notes to the accounts | 11 |
- 2 -
SLOUGH ISLAMIC SCHOOL PROJECT
SLOUGH ISLAMIC SCHOOL PROJECT
For The Year Ended 31 January 2020
Accountants Wisetax Accountants Ltd 7 Mackenzie Street Slough SL1 1XQ
- 3 -
SLOUGH ISLAMIC SCHOOL PROJECT
SLOUGH ISLAMIC SCHOOL PROJECT Trust No.1119531 TRUSTEES' ANNUAL REPORT YEAR ENDED 31 JANUARY 2020
The trustees present their report and the unaudited accounts of the charity for the year ended 31 January 2020.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Slough Islamic School Project Charity registration number 1119531 Principal office Iqra School Fernside Off Wexham road Slough SL2 5FF
The trustees
The trustees who served the charity during the period were as follows:
Mr Zafar Ali Mr L Khan Ms Cherryyll Pepper
Accountant Wisetax Accountant Ltd 1st Floor, 7 Mackenzie Street Slough Berkshire SL1 1XQ
- 4 -
SLOUGH ISLAMIC SCHOOL PROJECT
TRUSTEES' ANNUAL REPORT (continued) YEAR ENDED 31 JANUARY 2020
OBJECTIVES AND ACTIVITIES
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. To advance the education of primary school children of all faiths within Slough and the surrounding area by the provision and maintenance of a voluntary aided Islamic Faith School in Slough.
ACHIEVEMENTS AND PERFORMANCE
The construction of the school building was completed in February 2010 and the school activities are now being run successfully from this building.
FINANCIAL REVIEW
The net surplus of the charity is set out on page 9 and the trustees consider that the accumulated funds combined with future funds would be sufficient to enable the charity to meet its objectives.
PLANS FOR FUTURE PERIODS INDEPENDENT EXAMINER
Ahmed Sami Abbasi FFA/FTA has been re-appointed as independent examiner for the ensuing year.
Signed by order of the trustees
L Khan Iqra School Fernside Off Wexham road Slough
SL2 5FF
- 5 -
SLOUGH ISLAMIC SCHOOL PROJECT
31 March 2022
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SLOUGH ISLAMIC SCHOOL PROJECT YEAR ENDED 31 JANUARY 2020
I report on the accounts of the charity for the year ended 31 January 2020 which are set out on pages 8 to 14
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- 6 -
SLOUGH ISLAMIC SCHOOL PROJECT
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Ahmed Sami Abbasi FFA/FTA Independent examiner Wisetax Accountants, 7 Mackenzie Street, Slough, Berkshire, SL1 1XQ
- 7 -
SLOUGH ISLAMIC SCHOOL PROJECT
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 JANUARY 2020
| Total Funds | Total Funds | ||
|---|---|---|---|
| 2020 | 2019 | ||
| Note | £ |
£ | |
| INCOMING RESOURCES | |||
| Incoming resources from generating funds: | |||
| Voluntary income | 2 | ||
| Investment income | 3 | ||
| Other incoming resources | 4 | 43,761 | 11,879 |
───────── |
───────── |
||
| TOTAL INCOMING RESOURCES | 43,761 | 11,879 | |
───────── |
───────── |
||
| RESOURCES EXPENDED | |||
| Charitable activities | 5 | - | - |
| Governance costs | 6 | (107,712) | (109,915) |
────────── |
────────── |
||
| TOTAL RESOURCES EXPENDED | (107,712) | (109,915) | |
────────── |
────────── |
||
| NET OUTGOING RESOURCES FOR THE YEAR | 7 | (63,951) | (98,036) |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 9,647,965 | 9,746,001 | |
─────────────── |
─────────────── |
||
| TOTAL FUNDS CARRIED FORWARD | 9,584,014 | 9,647,965 | |
═══════════════ |
═══════════════ |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
- 8 -
SLOUGH ISLAMIC SCHOOL PROJECT
The notes on pages 7 to 10 form part of these accounts.
| BALANCE SHEET | BALANCE SHEET | |||||
|---|---|---|---|---|---|---|
| 31 JANUARY 2020 | ||||||
| 2020 | 2019 | |||||
| Note | £ | £ | £ | |||
| FIXED ASSETS | ||||||
| Intangible assets | 9 | 1,352,000 | 1,364,000 | |||
| Tangible assets | 10 | 8,531,362 | 8,610,914 | |||
─────────────── |
─────────────── |
|||||
| 9,883,362 | 9,974,914 | |||||
| CURRENT ASSETS | ||||||
| btors | 11 | 1,575 | 1,575 | |||
| Cash at bank | 503 | 339 | ||||
───────── |
───────── |
|||||
| 2,078 | 1,914 | |||||
| CREDITORS: Amounts falling due within one | ||||||
| year | 12 | (14,424) | (17,412) | |||
───────── |
───────── |
|||||
| NET CURRENT ASSETS | (12,346) | (15,498) | ||||
─────────────── |
─────────────── |
|||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 9,871,016 | 9,959,416 | ||||
| CREDITORS: Amounts falling due after more | ||||||
| than one year | 13 | (287,002) | (311,450) | |||
─────────────── |
─────────────── |
|||||
| NET ASSETS | 9,584,014 | 9,647,966 | ||||
═══════════════ |
═══════════════ |
|||||
| FUNDS | ||||||
| Unrestricted income funds | 14 | 9,584,014 | 9,647,966 | |||
───────────── |
─────────────── |
|||||
| TOTAL FUNDS | 9,584,014 | 9,647,966 | ||||
═════════════ |
═══════════════ |
- 9 -
SLOUGH ISLAMIC SCHOOL PROJECT
These accounts were approved by the members of the committee and authorised for issue on the 31 March 2022 and are signed on their behalf by:
Mr Zafar Ali Director
The notes on pages 11 to 14 form part of these accounts.
- 10 -
1. ACCOUNTING POLICIES
Basis of accounting
The accounts have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards and the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005).
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Leasehold - Straight line over 125 years
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Freehold Property - Straight line over 125 years Equip, Fixtures & Fittings - 20% reducing balance
2. VOLUNTARY INCOME
----- Start of picture text -----
Unrestricted Total Funds Total Funds
Funds 2020 2019
£ £ £
Donations
Donations received – -
═══════ ═══════ ════
3. INVESTMENT INCOME
Unrestricted Total Funds Total Funds
Funds 2020 2019
£ £ £
Bank interest receivable - -
════ ════ ════
----- End of picture text -----
- 11 -
4. OTHER INCOMING RESOURCES
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2020 |
2019 |
|
| £ | £ | £ | |
| Hall hire income | 43,761 | 43,761 |
11,879 |
═════════ |
═════════ |
═════════ |
5. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Funds Total Funds Total Funds | Funds Total Funds Total Funds | ||
|---|---|---|---|---|
| 2020 | 2019 | |||
| £ | £ | £ | ||
| Contributions to and on behalf of IQRA School | - | - | - | |
═════════ |
═════════ |
═══════ |
||
6. |
GOVERNANCE COSTSUnrestricted Funds | 2019 |
2018 | |
| £ | £ | £ | ||
| Security costs | - | - | - | |
| Accountancy fees | 800 | 800 | 800 | |
| Cleaning, repairs and maintenance | - | - | - | |
| Website Cost | - | - | - | |
| Volunteers costs | 836 | 836 | - | |
| Interest payable | 14,524 | 14,524 |
16,169 | |
| Other administrative costs | - | - | 60 | |
| Depreciation and amortisation | 91,552 | 91,552 |
92,886 | |
────────── |
────────── |
────────── |
||
| 107,712 | 107,712 |
109,915 | ||
══════════ |
══════════ |
══════════ |
||
7. |
NET OUTGOING RESOURCES FOR THE YEAR | |||
| This is stated after charging: | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Depreciation | 91,552 | 92,886 | ||
═════════ |
══════════ |
8. STAFF COSTS AND EMOLUMENTS
No salaries or wages have been paid to employees, including the members of the committee, during the year.
- 12 -
9. INTANGIBLE ASSETS
| Intangible asset | |||
|---|---|---|---|
| £ | |||
| COST | |||
| At 1 February 2019 and 31 January 2020 | 1,500,000 | ||
═════════════ |
|||
AMORTISATION |
|||
| At 1 February 2019 | 136,000 | ||
| Charge for the year | 12,000 | ||
────────── |
|||
| At 31 January 2020 | 148,000 | ||
══════════ |
|||
NET BOOK VALUE |
|||
| At 31 January 2020 |
1,352,000 | ||
═════════════ |
|||
| At 31 January 2019 | 1,364,000 | ||
═════════════ |
|||
10. TANGIBLE FIXED ASSETS |
|||
| Equipment, | |||
| Freehold | Fixtures | & | |
| property | Fittings | Total |
|
| £ | £ | £ | |
| COST At 1 February 2019 and 31 January 2020 | 9,276,905 | 215,825 | 9,492,730 |
═════════════ |
══════════ |
═════════════ |
|
DEPRECIATIONAt 1 February 2019 |
692,674 | 189,142 | 881,816 |
| Charge for the year | 74,215 | 5,337 | 80,886 |
────────── |
────────── |
────────── |
|
| At 31 January 2020 | 766,889 | 194,479 | 961,368 |
══════════ |
══════════ |
══════════ |
|
NET BOOK VALUE |
|||
| At 31 January 2020 | 8,510,016 | 21,346 | 8,531,362 |
═════════════ |
═════════ |
═════════════ |
|
| At 31 January 2019 | 8,584,231 | 26,683 | 8,610,914 |
═════════════ |
═════════ |
═════════════ |
|
11. DEBTORS |
|||
| 2020 | 2019 | ||
| £ | £ | ||
| Trade debtors | 1,575 | 1,575 | |
═══════ |
═══════ |
- 13 -
12. CREDITORS: Amounts falling due within one year
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Trade creditors | 14,424 | 17,412 | |||
| Overdraft | - | - | |||
───────── ───────── |
|||||
| 14,424 | 17,412 | ||||
═════════ ═════════ |
|||||
13. CREDITORS: Amounts falling due after more than one year |
|||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 287,002 | 311,450 | |||
══════════ |
══════════ |
||||
14. UNRESTRICTED INCOME FUNDS |
|||||
Balance at |
Incoming | Outgoing | Balance at | ||
| 1 February 2019 | resources | resources | 31 January 2020 | ||
| £ | £ | £ | £ | ||
| General Funds | 9,647,965 |
43,761 | (107,712) | 9,548,014 | |
════════════ |
═════════ |
═════════ |
══════════ |
||
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS |
|||||
| Tangible fixed assets Net current assets Long term Liabilities | Total | ||||
| £ | £ | £ |
£ | ||
| Unrestricted Income Funds | 9,883,362 | (12,346) | (287,002)9,584,014 | ||
Total Funds |
9,883,362 | (12,346) |
**(287,002) 9,584,014 ** |
- 14 -