# **AL-ZAHRA FOUNDATION**
**REGISTERED CHARITY NUMBER 1122126**
**FINANCIAL STATEMENT FOR THE YEAR ENDED 5TH APRIL 2024**
**Solutions Accountants & Financial Services Ltd**
149 Radford Road, Nottingham NG7 5EH, Tel/Fax 0115 8224993 www.solutionsaccountants.co.uk, e-mail info@solutionsaccountants.co.uk
## **AL-ZAHRA FOUNDATION FINANCIAL STATEMENT FOR THE YEAR ENDED 5TH APRIL 2024**
|**CONTENTS**|PAGE|
|---|---|
|GENERAL INFORMATION|1|
|TRUSTEES ANNUAL REPORT|2,3|
|INDEPENDENT EXAMINATION REPORT|4|
|INCOME & EXPENDITURE ACCOUNT|5|
|BALANCE SHEET|6|
|NOTES FORMING PARTS OF FINANCIAL STATEMENTS|7,8,9|
## **AL-ZAHRA FOUNDATION**
**FOR THE YEAR ENDED 5TH APRIL 2024**
## **Trustees**
Dr. Muhammed Al-Asadi Mr. Asrar Shabbiri Dr. Latif Imran Jalil Mr. Ghulam Abbas Mr. Wahid Hesari
## **Charity registration Number**
1122126
## **Registered Office**
Al-zahra Foundation Former Edna G Olds Nursery Unit 15 Osmaston Street LentonBoulevard Nottingham NG7 2ET
## **Bankers**
LloydsTsbBankPlc MarketSquareHouse Old Market Square Nottingham NG1 6FD
## **Independent Examiners**
Solutions Accountants & Financial Services Ltd 149 Radford Road Nottingham NG7 5EH www.solutionsaccountants.co.uk
-1
## **AL-ZAHRA FOUNDATION**
## **FOR THE YEAR ENDED 5TH APRIL 2024 TRUSTEE'S ANNUAL REPORT**
The trustees present their report and accounts for the year ended 5th April 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document the Charities Act 2011 and the Statement of Recommended Practice:Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard FRS 102 issued in 2014.
## **Principal activities**
The organisation has a charitable status, and provide, religious, recreational, & Social facilities in particular but not exclusively to Shia Ithnaasheri Community and people with disabilities in the interest of social welfare with the aim of improving the conditions of life of such people.
## **Tax status**
Al-Zahra is a registered charity and exempt from any corporation Taxes or income tax.
## **Recruitment and training of Trustees**
The Board of Trustees consists of six members who are recruited from within the community. Role descriptions are issued to each trustee and a full induction is given setting out the obligations of a trustee. All the trustees are issued with a copy of the Charity Commission's guide 'The Essential Trustee'.
## **Organisational structure**
The Charity is principally UK based, and its registered office is in Nottingham. The Charity has no partner organisations with whom it delivers its programmes in Nottingham
## **New ventures and Projects**
A. The charity hire out the hall premises to local non member Shia Community of Nottingham.
B. We have started providing the sports facility to the community i.e badminton facility to adults Male and female and Kick boxing to children.
## **Financial review**
## **Principal sources of funding**
The principal source of funding for the Charity is Donations and Khums from the community.
## **Reserves policy**
The Trustees have established a policy whereby, given the charity's present level and nature of activities, the restricted funds not committed or invested in intangible and tangible fixed assets ("the free reserves") held by the Charity. At this level the Trustees feel that they would be able to continue the current activities the current activities of the Charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced as activities changed.
The level of free reserves (if any) will be held at the balance sheet which reflects the funds received by donors or other funders shortly before the year end which were utilised early in the new year. In addition, these donations are retained and utilised systematically to support necessary projects during the next twelve Months.
Conti..
-2
## **AL-ZAHRA FOUNDATION**
## **FOR THE YEAR ENDED 5TH APRIL 2024**
## **Statement of Trustees' responsibilities**
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that period.
In preparing these financial statements, the trustees are required to:
· select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP; make judgements and accounting estimates that are reasonable and prudent;
· state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations, and the provisions of the trust deed. 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.
----------------------------------------------26/11/2024 **GHULAM ABBAS TRUSTEE** _**On the behalf of all Trustees**_
-3
## **AL-ZAHRA FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
I report on the accounts of the charity, which are set out on page 5 & 6.
## **Respective responsibilities of trustees and Examiner**
The trustees of Al-Zahra Foundation are responsible for the preparation of the accounts, the trustees consider that an Audit is not required for this year under section 144(2) of the Charities Act 2011 and that an Independent examination is needed.
It is my responsibility to:
1. Examine the accounts under section 145 of the 2011 Act
2. Follow the procedure laid down in the general direction given by the charity commissioners under section 145(5)(b) of the 2011 Act; and
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 and 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 matters set out in the statement below.
Our work was conducted in accordance with the statement of standards of reporting accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the charity, and making such limited enquires of the officers of the charity as we considered necessary for the purpose of the reporting. These procedures provided only the assurance expressed in our opinion.
In connection with my examination, no other matters has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the requirement: **.** 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.
## QAZI NAVEED
----------------------------------------------------------------
26/11/2024
Qazi Naveed Arshad Solutions Accountants & Financial Services Ltd 149 Radford Road Nottingham NG7 5EH
-4
## **AL-ZAHRA FOUNDATION**
## **Registered Charity Number 1122126 FOR THE YEAR ENDED 5TH APRIL 2024 INCOME & EXPENDITURE ACCOUNT**
|**Note**
**INCOME AND ENDOWMENTS FROM**
Donation, Friday collections & similar Income
Government Grant
HMRC Gift Aid
Khums
**Total Incoming Resources**
**EXPENDITURE ON**
Cost of generating funds
Charitable activities
1
Governance costs
2
**TOTAL**
**NET ( EXPENDITURE)**
Investment (deficits)/surpluses
**Net Movement in funds before Transfers**
Gross Transfers between funds
**Net ( Expenditure for the year )**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Restricted**
**Total**
**funds**
**Funds**
**Funds**
**2024**
**£**
**£**
**£**
50,645
6,217
**56,862**
10,070
**10,070**
900
**900**|**Total**
**Funds**
**2023**
**£**
98,937
28,766
5,890|
|---|---|---|
||61,615
6,217
**67,832**|**133,593**|
||38,961
4,785
**43,746**
28,435
**28,435**|60,566
43,285|
||67,396
4,785
**72,181**|**103,851**|
||||
||**5,781**
**-**
**1,432**
**4,349**
**-**|**29,742**|
||-
-
-
-
-
-
-
-
4,349
-
-
-
340,014||
|||-|
|||29,742
310,272|
||**-**
-
**335,665**|**340,014**|
-5
## **AL-ZAHRA FOUNDATION**
## **BALANCE SHEET Registered Charity Number 1122126**
FOR THE YEAR ENDED 5TH APRIL 2024
|**Notes**
**2024**
**£**
**Fixed Assets**
Freehold Property
2A
316,100
Fixture & Furniture
2A
5,806
Computer & Television
2A
4,120
**326,026**
**Current Assets**
Debtors
10,070
Cash at Banks and in hand
5
10,194
**Total Assets**
**20,264**
**Creditors: Amounts Falling due**
6
625
**within one year**
**Total Assets less current liabilities**
**Long Term Liabilities**
4
**Net Assets: Total Assets less Total Liabilities**
**FUNDS**
Accumulated Surplus Account
3
**TOTAL FUNDS**|**Notes**|**2024**|**2024**
**£**
**345,665**
345,665
10,000
**335,665**
335,665
**335,665**||**2023**|
|---|---|---|---|---|---|
|||**£**
316,100
5,806
4,120|||**£**
316,100
3,844
5,024|
|||**326,026**|||**324,967**|
|||10,070
10,194|||-
30,627|
|||**20,264**|||**30,627**|
||||||1,580
**354,014**
354,014
14,000|
||||||**340,014**|
||||||340,014|
||||||**340,014**|
## **EXEMPTION STATEMENT**
The trustees of Al-Zahra Foundation are responsible for the preparation of the accounts, the trustees consider that an Audit is not required for this year under section 144(2) of the Charities Act 2011 and that an Independent examination is needed.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime set out in Part 15 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 and Charities Act 2011 with respect to accounting records and preparation of accounts. These financial statements were approved by the Board of Trustees and are signed on their behalf by:
-------------------------------------------------------------
**GHULAM ABBAS TRUSTEE** 26/11/2024
The notes on page 7,8,9 form part of this financial statement.
-6
## **AL-ZAHRA FOUNDATION Notes forming part of these financial statements FOR THE YEAR ENDED 5TH APRIL 2024**
## **Notes**
## **ACCOUNTING POLICIES**
## **1 Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the requirements of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland FRS102 issued in 2014( as updated through Update Bulletin 1 published on 2 Feburary 2016, and the Charities Act 2011. The company is exempt from preparing a Cash Flow Statement because it is a small entity as defined by Charities SORP (FRS102).
## **Tax status**
Al-Zahra Foundation has a charitable status hence do not attract any Taxes.
## **Trustees remuneration**
None of the trustee are paid wages or any benefit in kind.
## **Funds structure**
The charity has restricted and unrestricted funds. Restricted funds are categorised as restricted based on the donors’ restrictions on the projects for which they must be used.
## **Income recognition**
All income is recognised once the charity has received the funds. The Trustees consider this to be the appropriate and prudent principle.
## **Expenditure recognition**
Expenditure is recognised when the funds have been disbursed. The charity follows a strict evaluation and approval procedure for charitable expenditure and funds are disbursed immediately upon approval.
## **Income and endowments**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
- . Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
- . HMRC Gift aid has been claimed .
## **Depreciation**
Depreciation is has been charged on reducing balance method
The following rates has been used to write-off the asses:-
Fixtures & fittings 6% per annum
Computer & LCD 18% per annum
**Information regarding trustees and employees remuneration**
The trustees received no remuneration in the year (2023 - 24). The average number of people employed by the charity during the year was nil (2023-24).
-7
## **Notes forming part of these financial statements FOR THE YEAR ENDED 5TH APRIL 2024**
## **Notes**
|**otes**|||
|---|---|---|
|**Net incoming resources**
Net incoming resources
are stated after charging:
**1**
**Charitable activities**
Food provided at Al-Zahra foundation
Ramdan and Muharram Programme,SWD
Flood Appeal
Travel
Others
Funeral Services
**2**
**Governance cost**
Mortgage Interest
Heat & Light, Telephone
Repair & Maintenance
Water, Rates & waste collection
Bank Charges
BBL Interest
Insurance
Miscellaneous
Paye
Wages & Subcontracts
Computer Expenses
Travel
Depreciation
Professional & Accountancy|**£**
**£**
**£**
Un-restricted
Restricted||
||**2024**
**2024**
14,855
-
435
-
1,935
350
22,172
4,000|**2023**
8,246
17,017
12,843
1,860
20,600|
||38,961
4,785|60,566|
||**2024**
**2023**
4,690
5,293
6,443
1,981
7,491
1,486
1,430
-
70
306
405
1,778
1,632
-
1,714
-
-
15,130
14,400
209
144
457
1,589
1,169
962
625
2,315
**28,435**
**43,285**||
## **2A FIXED ASSETS**
|**COST**
06/04/2023
Additions / Disposal
05/04/2024
**Depreciation**
Accumulated
Charge for the Year
as at 05/04/2024
**Net Book Value**
05/04/2024
06/04/2023|**Fixture &**
**Free Hold**
**Computers & TV**
**Furniture**
**Property**|**TOTAL**|
|---|---|---|
||14,395
316,100
6,732
2,227
-
-|337,227
2,227|
||16,622
316,100
6,732|**339,454**|
||10,551
1,708
265
904|**12,259**
**1,169**|
||10,816
2,612|**13,428**|
||||
||**5,806**
**316,100**
**4,120**|**326,026**|
||||
||3,844
316,100
5,024|**324,967**|
-8
## **Notes forming part of these financial statements FOR THE YEAR ENDED 5TH APRIL 2024**
|**Notes**
**3**
**Accumulated Surplus Account**
Opening Balance 06/04/2023
Deficit/Surplus 05/04/2024
**Balance**
**4**
**Long term Liabilities**
Opening Balance (Zohra Shabiri)
Paid back
Closing Balance (Zohra Shabiri)
Add : BBL LOAN
**Total Long Term Liabilities**
**5**
**Closing Balance**
current a/c
Saving Account
Urdu Committee
Arabic Community
Star Academy
Persian Community
Ladies Committee
Cash
**6**
**Short term liabilites**
Accountancy
Other Creditors/ Utilities
Total s/t liabilites|**2024**
**2023**|
|---|---|
||340,014
310,272
4,349
-
29,742|
||**335,665**
**340,014**|
||-
39,360
(39,360)
**-**
**-**|
||**10,000**
**14,000**|
||**10,000**
**14,000**|
||1,826
21,191
2,196
3,801
1,166
641
645
645
2,407
2,407
89
89
1,865
1,113
-
740|
||**10,194**
**30,627**|
||625
1,100
-
480|
||**625**
**1,580**|
-9