Insaan Aid Annual Report and Accounts
For the Year Ended 31 March 2024
Charity No. 1122725
Insaan Aid
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Annual Report and Accounts for the year ended 31 March 2024
| Index | |
|---|---|
| Charity Information | 2 |
| Trustees' Annual Report | 3 - 4 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 10 |
| The following page does not form part of the financial statements | |
| Detailed statement of financial activities | 12 |
Insaan Aid
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Annual Report and Accounts for the year ended 31 March 2024
Charity information
| Charity Number | 1122725 |
|---|---|
| Charity Trustees | |
| Abdul Motlib | |
| Abdul Mozid Khan | |
| Abdus Subhan | |
| Dula Miah | |
| Fotik Miah | |
| Manik Miah | |
| Mohammed Foezul Haque | |
| Mohammed Mahbub Alam | |
| Mohammed Mainul Alam | |
| Mohammed Mujibul Haque | |
| Mohammed Ruhul Amin | |
| Mohammed Tunu Hussain Miah | |
| Noor Miah | |
| Nuaj Miah | |
| Nurul Islam Chowdhury | |
| Zubair Ahmed | |
| Management Committee | Mohammed Miah – Treasurer |
| Yousuf Saleh – Chairman | |
| Registered Office | 32 Bond Street |
| Ipswich | |
| Suffolk | |
| IP4 1JE | |
| Bankers | Lloyds TSB |
| Independent Examiner | Muminur Rahman FCCA |
| 7 Western Close | |
| Rushmere St Andrew | |
| Ipswich | |
| Suffolk | |
| IP4 5UU |
Insaan Aid Annual Report and Accounts for the year ended 31 March 2024
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Trustees' Annual Report
The trustees present their report and unaudited financial statements of the charity for the year ended 31 March 2024.
The charity was established in 2008 and was registered under the Charities Act on 11th February 2008.
Governing document
Insaan Aid is governed by her Declaration of 22nd November 2006. This specifies Insaan Aid's objects as well as showing that the charity is constituted as a body of trustees. Currently, the body consists of 18 original trustees. There shall be at least 18 trustees. Every future trustee shall be appointed for a term of one year, which is renewable, by a resolution of the trustees. A trustee can only be chosen who qualifies in being able to support or add value to the Charity's objects. The guidelines for determination of trustee need, eligibility, removal, and appointment, are clearly documented in the Declaration which we are obliged to follow. Any trustee who is considered would have necessarily spent a great deal of time working closely with Insaan Aid. There are not any special or specific training requirements.
Objects of the Charity
Relief of financial hardship among people living or working in Bangladesh which they could not otherwise afford through lack of means. The relief of financial hardship, either generally or individually, of people living in Bangladesh would come by way of by making grants of money for providing or paying for items, services or facilities, the relief of sickness and the preservation of health among people living permanently or temporarily in Bangladesh and advancement of education of the public in Bangladesh.
Review of Activities
The statement of financial activities for the year is set out on page 6 of the accounts.
As always, we are extremely grateful to all those who have supported us this year, both those who helped us financially and those who freely gave their time.
Numerous projects have been set up and continue to operate in Bangladesh to provide relief against those in financial hardship and human crisis including:
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Insaan Aid – Winter project to provide fresh warm clothes for the poor and deprived
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Insaan Aid continues to promote Islamic education in Arabic, Quran, Tajweed by providing financial assistance to students and elderly in financial hardship.
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Insaan Aid – Qurbani projects in Bangladesh
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Insaan Aid continues to collect and distribute Zakat to the poor and needy
Following from our significant step last year to develop an orphanage and adult learning centre (the ‘Insaan Aid Centre or the Centre’) this year by the help of Allah (SWT) Insaan Aid has taken further steps to set the foundation of the Centre and being the second phase of the development which is the construction of the second floor. Insaan Aid Centre development costs for the year is £99,736. To accerate the construction of the Centre certain general funds were used to fund the construction of the Centre. Consistent with prior years, the Charity has set up a restricted fund for any donations made towards the Centre. The balance as at 31 March 2024 on the Insaan Aid Centre account which is a designated and restricted fund is £30,523. The balance on the unrestricted general fund is £45,343.
Insaan Aid Annual Report and Accounts for the year ended 31 March 2024
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Trustees' Annual Report
Trustees' responsibilities
The Charities Act requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of the surplus or deficiency for the year then ended. In preparing those financial statements, the trustees are required to select suitable accounting policies, as described on page 8, and then apply them on a consistent basis, making judgments and estimates that are prudent and reasonable. The Trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the Declaration of 22nd November 2006. The trustees 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.
Risk Management
The Trustees have considered the major risks to which the Charity is exposed, and systems have been established to mitigate those risks. The implementation of these procedures minimises those risks. These procedures are regularly reviewed to ensure that they still meet the needs of the Charity.
Reserves
It is the policy of the Charity to maintain unrestricted funds at a level in excess of annual unrestricted management and administration expenditure. Unrestricted funds are maintained at least at this level throughout the year.
Signed by order of the trustees
Approved by the trustees on
Insaan Aid Annual Report and Accounts for the year ended 31 March 2024
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Independent examiner's report to the trustees
I report on the accounts of Insaan Aid for the year ended 31 March 2024 which are set out on pages 6 to 10.
Respective responsibilities of trustees and examiner
The charity's trustees 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 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under the 2011 Act and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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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
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 the 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
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (accounts and Reports) Regulation 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.
Signed:
Name: Muminur Rahman FCCA
Address: 7 Western Close Rushmere St Andrew IPSWICH Suffolk IP4 5UU
Date: 11/02/2025
Insaan Aid Annual Report and Accounts for the year ended 31 March 2024
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Statement of financial activities
All recognised gains and losses are reflected in the Statement of Financial Activities and therefore no separate statement of total recognised gains and losses has been presented.
| Note Incoming Resources Incoming resources from generated funds Voluntary Income Subscriptions and donations 2 Total incoming resources Resources Expended Charitable activities Fundraising costs Ramadan project Qurbani project Winter project Pensioner support Meeting and Professional costs Health Project Insaan Aid Centre Development costs Other restricted expense Other resources expended 3 Total resources expended Net (expenditure)/income for the year Fund balance as at 1st April 2023 Fund balance as at 31st March 2024 |
Unrestricted Funds £ 16,751 16,751 1,165 993 3,035 3,308 99,736 8,437 116,674 (99,923) 145,266 45,343 |
Restricted Funds £ 14,786 14,786 6,017 8,092 14,109 677 29,846 30,523 |
Total 2024 £ 31,537 31,537 6,017 8,092 1,165 993 3,035 3,308 99,736 8,437 130,783 (99,246) 175,112 75,866 |
Total 2023 £ 15,886 |
|---|---|---|---|---|
| 15,886 | ||||
| 84 | ||||
| 84 | ||||
| 15,802 159,310 |
||||
| 175,112 |
The accompanying notes form part of these financial statements.
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Insaan Aid
Annual Report and Accounts for the year ended 31 March 2024
Balance sheet
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 6 | 352,028 | 252,292 |
| 352,028 | 252,292 | ||
| Current assets | |||
| Cash at bank and in hand | 75,866 | 175,112 | |
| 75,866 | 175,112 | ||
| Net assets | 427,894 | 427,404 | |
| The total funds of the charity | |||
| - General fund | 45,343 | 145,266 | |
| - Restricted income fund | 30,523 | 29,846 | |
| Designated fund | 352,028 | 252,292 | |
| 427,894 | 427,404 |
These financial statements were approved by the Board of the Charity Trustees on 11 February 2025 and are signed on their behalf by:
The accompanying notes form part of these financial statements.
Insaan Aid Annual Report and Accounts for the year ended 31 March 2024
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Notes to the financial statements
Accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with applicable accounting standards and the Statement of Recommended Practice on accounting by charities issued in March 2005.
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.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a particular purpose.
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 a particular purpose. The cost of raising and administering such funds are charged against the specific fund.
Incoming resources
Voluntary income and donations are included in incoming resources when they are receivable except when the donors' conditions have not been fulfilled, then the income is deferred. Gifts in Kind for which Insaan Aid accepts full responsibility for distribution are included in income at their market value when it is distributed and under Charitable Activities at the same value and time. The value of services provided by volunteers has not been included. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.
Resources expended
Resources expended are included in the Statement of Financial Activities on an accrual basis, inclusive of any VAT which cannot be recovered.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Other resources expended are those costs incurred directly in support of expenditure on the objects of the charity and include the costs of employing one local staff in Bangladesh to support the administration and delivery of charitable activities. Office expense are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Expenditure which is directly attributable to specific activities has been included in those cost categories. Where costs are attributable to more than one activity, they have been apportioned across the costs on a basis consistent with the use of those resources.
Tangible fixed assets
The Freehold land and building in Bangladesh is not currently being depreciated.
Insaan Aid Annual Report and Accounts for the year ended 31 March 2024
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Notes to the financial statements
Transition to FRS 102
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was required. No restatements are required as a result of the transition to FRS 102.
Taxation
As a registered charity, the activities are exempt from United Kingdom Income and Corporation taxation.
Subscriptions and donations
The turnover and profit before tax are attributable to the one principal activity of the company. An analysis of turnover is given below:
| Subscriptions Donations and gifts Fundraising charity events Other projects Gift Aid Orphanage Centre |
Unrestricted Funds £ 16,751 16,751 |
Restricted Funds £ 14,109 677 14,786 |
Total 2024 £ 30,860 677 31,537 |
Total 2023 £ 15,774 92 |
|---|---|---|---|---|
| 15,866 |
Other resources expended
| Salary Overseas Development Manager Salary Overseas Caretaker Office expense Promotion and publicity Office rent |
2024 £ 6,635 752 1,050 8,437 |
2023 £ |
|---|---|---|
The charity employed one local staff in Bangladesh to support the administration and delivery in furtherance of charitable activities and a Development Manager to manage the development of the Orphanage Centre.
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Insaan Aid Annual Report and Accounts for the year ended 31 March 2024
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Notes to the financial statements
Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
Tangible fixed assets
| Cost At beginning of the year Additions Disposals At 31st March 2024 |
2024 Freehold Land £ 252,292 99,736 352,028 |
2023 Freehold Land £ 252,292 |
|---|---|---|
| 252,292 |
Freehold land and building relate to the Orphanage Centre in Bangladesh and is not depreciated.
Insaan Aid
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Annual Report and Accounts for the year ended 31 March 2024
Detailed statement of financial activities
The following page does not form part of the financial statements
Insaan Aid Annual Report and Accounts for the year ended 31 March 2024
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Detailed statement of financial activities
| Incoming Resources Incoming resources from generated funds Voluntary Income Subscriptions Donations and gifts Fundraising charity evenings Other projects Gift Aid Orphanage Centre Total incoming resources Resources Expended Costs of generating voluntary income Costs of generating funds Fundraising costs Charitable activities Ramadan project Qurbani project Education and support Winter project Pensioner support Water and sustainability project Gaza Appeal and other relief Land related costs Meeting and Professional costs Health Project Insaan Aid Centre Development costs Other restricted expense Other resources expended Salary Overseas Development Manager Salary Overseas Caretaker Office expense Promotion and publicity Office rent Total resources expended Net income |
2024 £ 30,860 677 31,537 6,017 8,092 1,165 993 3,035 3,308 99,736 6,635 752 1,050 130,783 (99,246) |
2023 £ 15,774 92 |
|---|---|---|
| 18,062 | ||
| 84 | ||
| 84 | ||
| 17,978 |