2023-07-31-accounts

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MADANIA WELFARE TRUST Charity Registration Number: 1123338

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REPORT AND FINANCIAL STATEMENTS ~ FOR THE YEAR ENDED 31 JULY 2023

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REPORTING ACCOUNTANTS: AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: [phone]

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MADANIA WELFARE TRUST FOR THE YEAR ENDED 31 JULY 2023

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CONTENTS		Pages
Information of financial Statements	:	3
Report of the Executive Committee	:	4-5.
Statement of responsibilities of the	Committee:	6
Independent Examiner's Report	:	7
Income and Expenditure Accounts	:	8-9.
Statement ofAssets and Liabilities	=:	10
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NotestotheAccounts		11-12.

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MADANIA WELFARE TRUST FOR THE YEAR ENDED 31 JULY 2023

MANAGEMENT COMMITTEE

CHAIR PERSON Mr Mofiz Ali GENERAL SECRETARY Mr Hussain Ahmed

ADDRESS Flat 4 71 Glass House Field London E1W 3HG BANKER HSBC BANK PLC

INDEPENDENT EXAMINER

AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: [phone]

Charity's Trustees:

Mr Mofiz Ali Mr Hussain Ahmed M Saleh Ahmed Mr Muhammed Ali Syed Nazim Uddin

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REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JULY 2023

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MADANIA WELFARE TRUST

The trustees present their report and financial statements for the year ended 31 July

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The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005 in preparing the annual report and financial statements of the Charity.

Legal Status:

Charity: Registered with the Charity Commission, Charity Number: 1123338

Objects, Principal Activities and Organisation of the Charity

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The Charity was established with aims & objectives as follows:

The Charity was estalished with a view to promoting the benefit of Bangladeshi people residents in the UK or Bangladesh by:

a) Providing, promoting and assisting in the provision of education and training including supplementary education in Bangladesh.

b) The relief of financial need and suffereing among victims of natural or other kinds of disaster

in Bangladesh by such means as the trustees shall determine, for persons, bodies, organisations affected.

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MADANIA WELFARE TRUST REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JULY 2023

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Organisation:

A Management Committee, the members of which are the trustees manages the affairs of the charity The Management Committee manages the business of the charity including the paying of all expenses

Trustees:

Trustees, who are all members of the executive committee, and who served during the year are set out on page 3.

The trustees are elected at the Annual General Meeting, for membership of the Executive Committee and serve until the end of the next Annual General Meeting, where they can stand for re- election as members of the new Executive Committee.

Trustees responsibilities in relation to the financial statements

The committee or Trustees are required by charity's law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the Trustees are required to:

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The Trustees are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales 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 and of the incoming resources and application of resources 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;

• Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

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The Trustees are responsible for keeping proper accounting records that 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 Charity (Accounts and Reports) Regulations 2008 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

VOLUNTEERS:

The Trustees wish to record their appreciation on behalf of the Charity and community for the volunteers who . assist in the smooth running of the Charity and are critical in helping to keeps the running costs down

RISK REVIEW:

The Trustees have conducted their own review of the major risks to which the Charity is exposed and steps have been initiated to minimise the identified risks. All functions of the Charity are subjected to periodic review resulting in a process of ongoing improvement.

All staff and volunteers are trained and have all the required statutory and regulatory clearances required.

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MADANIA WELFARE TRUST REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JULY 2023

SERIOUS INCIDENTS AND EXCEPTIONS:

The Trustees are pleased to note, that there were no incidents which gave rise to the need for the Trustees to lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Exceptions recorded and which gave rise to the need for the Trustees to record on the Charity’s Exceptions’ Register.

RELATED PARTY TRANSACTIONS:

During the year the Charity was under the control of Trustees and Management Committee members as listed above. This report, which has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to small companies.

No members of the management committee received any remuneration during the year. No trustee or other person related to the charity had any personal interest in any contract or _ transaction entered into by the charity during the year.

Reserve Policy

It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to its expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding. They will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The Centre will actively work to achieve this level of reserves.

INDEPENDENT EXAMINER

According to the provisions of the Charities Act 2008 and updated 2011, the Committee has agreed that and audit is not required for this financial year. However due to provisions of the same act an independent examiner a is required and AM Accountancy Services appointed as external Accountant or Independent Examiner.

Transaction and financial position

The Statement of Financial Activities shows net surplus for the year of £82,595.61 and our accumulated funds stand at £110,758 in total.

AM Accountancy Services carried out an independent examination of the accounts included in the report.

This report, which has been prepared in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005.

Approved by the trustees and signed on its behalf by

This report was approved by the Executive Committee on and signed on their behalf.

Mr Mofiz Ali (Chairman) Date:

Mr Hussain Ahmed (General Secretary) Date: Lo/[oS,] /ZY

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Accountants’ Report

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To the Trustees of MADANIA WELFARE TRUST FOR THE YEAR ENDED 31 JULY 2023

We report on the accounts for the year ended 31 July 2023 set out on pages 8 to 12 which have been prepared under the historical cost convention and the accounting policies set out in note 4 to the financial statements.

Respective Responsibilities of Trustees and Accountants

As described on page 5 the trustees are responsible for the preparation of the financial statements, and they consider that the trust is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion to you.

Basis of Opinion

We conducted our work in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the charity, and making such limited enquiries of the trustees and officers as we considered necessary for the purpose of this report. These procedures provide only the assurance expressed in our opinion.

Opinion

In our opinion:

• » (a) The accounts are in agreement with the accounting records kept by the charity under the requirements of the Statement of Recommended Practice — Accounting and Reporting by Charities;

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• (b) Having regard only to, and on the basis of, the information contained in those accounts:

• (1) The accounts have been drawn up in a manner consistent with the accounting requirements specified the Statement of Recommended Practice — Accounting and Reporting by Charities, and

• (2) The charity satisfied the conditions for the exemption from an audit of the accounts for the year specified in the Charities Act.

• (3) This unaudited Account we have prepared in accordance with the figure, information and explanation we have received from the management of the current committee.

Am AT OUNTINCY SERVIC ES AM ACCOUNTANCY SERVICES 43LONDON BEN JONSONE1 4SA ROAD AM Accountancy serv.vices 43 Ben Jonson Roa London E1 4S5A Date: 2o/os /[2y] Tel: [phone]

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MADANIA WELFARE TRUST

- Statement of Financial Activities (Income & Expense Statement) FOR THE YEAR ENDED 31 JULY 2023

					2023	2022
	Notes	Unrestricted		Restricted	Total	Total
		£		£	£	£
Incoming Resources
Voluntary income:
Memebership fees
For Building (Education) Project
For Qurbani Project						21,000
Poor and Needy Projects
For Charities
For Medical Project
For Ramadan& Iftar Project
All Other General Donations		103,799			103,799	86,763
Other Income:
Donations Via GiftAid & Just Giving
Total Incoming Resources		103,799		0	103,799	107,763
Resources Expended
Direct Charitable Expenditure
. For Building (Education) Project
For Qurbani Project		2,500			2,500	21,000
Poor and Needy Projects		6,500			6,500	185,645
Payment to Charities		10,132			10,132	5,000
For Medical Project	:
For Ramadan& Iftar Project
Printing, postage, stationery & Advetisement
Telephone, fax and photocopies
Rent, Rates and service charges
Refreshments
Volunteer Expenses						500
Travel & Transport		176			176
Direct charitable expenditure		19,308		0	19,308	212,145
Management& Administration Expenses:			oo	:			:
Accountancy		1,000			1,000	1,000
Advertising and promotion
Bank charges		123			123	747
Legal & Professional		750			750
Depreciation		22			22	25
Management& Administration Expenses:		1,895		0	1,895	1,772
Total Resources Expended		21,203		0	21,203	213,917
Net Incoming Resources /		82,596		0	82,596	-106,154
(resources expended)
Net Movementfunds forthe		82,596		0	82,596	-106,154
period:
Total Funds Brought forward		28,162		0	28,162	134,316
Balanceat31July 2023		110,758		0	110,758	28,162

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MADANIA WELFARE TRUST

Summary Income and Expenditure Account FOR THE YEAR ENDED 31 JULY 2023

		2023
	Notes	£
Income		103,799
Total expenditure		21,203
NetSurplus(Deficit)forthefinancialyear		82,596

There were no recognised gains other than those included in the Income and Expenditure Account for current year.

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MADANIA WELFARE TRUST Statement of Assets & Liabilities ( Balance Sheet) As at 31 JULY 2023

----- Start of picture text -----
2023
NOTE £ £
Fixed Assets
Fixture, Fittings and Equipments 2 123
Current Assets
Cash at Bank & in Hand 115,550
115,550
Current Liabilities
Amount falling due to one year 4 4,915
NET CURRENT ASSETS / (LIABILITIES) 110,635
TOTAL ASSETS LESS CURRENT LIABILITIES 110,758
FUNDS: Brought Forward 5 28,162
Excess/(Deficit) of income over expenditure 82,596
Total Funds 110,758
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The financial statements were approved by the Executive Committee and signed on their behalf:

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Mr MofizAi MrHussain Ahmed
(Chairperson) (General Secretary)
Date: Date: Jof sey
----- End of picture text -----*

The Notes on pages 10 to 12 form part of the financial statements.

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MADANIA WELFARE TRUST FOR THE YEAR ENDED 31 JULY 2023 NOTES TO THE ACCOUNTS

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1. ACCOUNTING POLICIES

a. Basis of Accounting

Basis of accounting The Financial Statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value.

The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smatier Entities (effective January 2015), and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015).

b. Grants

Revenue grants are credited to the Income and Expenditure account on a receivable basis. c. Donations

‘Donation are recorded on a receipt basis. ,

d. incoming Resources

Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors’ conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.

e. Resources Expended

Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.

Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.

f. Going Concern Basis

The financial statements have been prepared on the going concern basis, as in the opinion of the trustees, there are no issues arising which would suggest any other basis as being more appropriate.

g. Administration Costs

• Administration expenditure includes all expenditure not directly related to the charitable activity.

h. Taxation

As a Charity, they are exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

• i. 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:

Fixture, Fitting and Equipment:

15 % on Reducing Balance method

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MADANIA WELFARE TRUST

FOR THE YEAR ENDED 31 JULY 2023 NOTES TO THE ACCOUNTS

2. FIXED ASSETS COST

2.	FIXED ASSETS	FIXED ASSETS
	Fixtures, fittings& COST improvements				Building and Construction
	£				£	£
	At Ot August 2022				-		-
	Fixtures and fittings	145					145
	Addition	-			-		-
	At 31 July 2023	145			-		145
	DEPRECIATION
	At 01 August 2022	-			-		-
	Charge for the year	22			-		22
	At 31 July 2023	22			-		22
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	NET BOOK VALUE
	At01 August 2022	145			-		145
	At 31 July 2023	123			-		123
3.	Net Surplus ofthe Financial Year
	The excess of expenditure over income is stated after charging:
					2023
					£
	Accountants’ remuneration				1,000
	Depreciation		;		22
4.	Creditors and Acruals
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	Interest Free Loan				2,325
	Accountancy				2,590
					4,915
5.	Funds/Capital				2023
	Balance at 31 July 2022				28,162
	Balance at 1 August 2022				28,162
	Excess/ (Deficit) of Income over Expenditure				82,596
	Balanceat31July2023				110,758

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