MADANIA WELFARE TRUST Charity Registration Number: 1123338 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 REPORTING ACCOUNTANTS: AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E14SA TEL.. 020 7790 6111 Page 1 of 12
MADANIA WELFARE TRUST FOR THE YEAR ENDED 31 JULY 2024 CONTENTS Pages Information of financial Statements Report of the Executive Committee Statement of responsibilities of the Committee.. Independent Examinerfs Report Income and Expenditure Accounts Statement of Assets and Liabilities 10 Notes lo the Accounts 11-12. Page 2 of 12
MADANIA WELFARE TRUST FOR THE YEAR ENDED 31 JULY 2024 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 E14SA TEL.. 020 7790 6111 Chari 's Trustees: Mr Moliz Ali Mr Hussain Ahmed M Saleh Ahmed Mr Muhammed Ali Syed Nazim Uddin Page3of 12
MADANIA WELFARE TRUST REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JULY 2024 The truslees present their report and financial statements for the year ended 31 July 2024. The Trustees have adopted the pi'ovisioiis of tlie Slatement of Recoimiiiended Practice (SORP) Accoiiiitiiig and Reporlintr by Cliarities issued in 2005 in preparing ilie aiiiiual reporl aiid finaiicial stateineiils of the Charity. Legal Status: Charity: Registered with the Chaiity Commission, Charity Nuniber: I [23338 Objects, Principal Activities and Organisation of the Charity The Charity was established with aims & objectives as folloNvs'. Tlie Charity was estalished witli a view to promotiiig the benefit of Baiigladeshi people residents in the UK or Bangladesh by= a) Providing, proinoting and assistino in Ilie provision of education and Iraining including SLipplenienlary education in Baiigladesh. b) The relief of financial need aiid suffereing among victitns of natural or otlier kind5 of disaster n Bangladesh by sucli mcaiis as the trL]slees sliall determine, for persons, bodies, organisalioiis affected. Page4 0112
MADANIA WELFARE TRUST REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JULY 2024 Organisation: A Management Committee, the members ofwhich are the trustees manages the affairs ofthe chafity The Management Committee manages the business of the charity including the paying of all expenses Trustees: TrLlStees, who are all Inembers of tlie executive coinmittee. and wlio served during Ilie year ar¢ set out on page 3. The triistees are elected at tlie Annual General Meeting. for meinbersliip of tlie Executive Coinmitt¢e aiid serve uiitil the end of tlie nexl Annlial General Meetiiig, where they can stand for re- election as meinbers of the new ExecLltive Coininittee. Trustees responsibilities in relation to the financial statements The cominittee or Trustees are requii'ed by cliarity's law to prepare fiiiancial statements for eaeli finaiicial y¢ai' which give a true and fair view of the financial activities of tlic charity and of its fiiiaiicial posilion at tlie end of that year. In preparing those financial statements the Trustees are required to= 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 resource5 and application of resources of the charity for that period. In preparing these Financial Statements. the Trustees are required to.. Select SLJitable accounting policies and then apply them conslstently.. Observe the method5 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 unle55 It 15 inappropriate to presume that the charity will continue in operation The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime 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 Ihe 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 olher 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 gUlatOry clearances required. Page5of12
MADANIA WELFARE TRUST REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JULY 2024 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 lor the Trustees to record on the Charity's Exceptions, Register. RELATED PARTY TRANSACTIONS: During the year the Charity was under the conlrol of Trustees and Management Committee members as listed above. This report. which has been prepared in accordance with the special provisions of Patt 15 of the Companies Act 2006 applicable to small companies. No members of the management committee received any remuneration during the year. No Iruslee or other person related to the charity had any personal interest in any contract or Iransaction 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 lo 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 is required and AM Accountancy Services appointed as external Accountant or Independent Examiner. Transactxon and financial position The Statement of Financial Activities shows net deficit foi the year of £15,846 and our accumulated funds stand at £94.912 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 ISORPI Accounting and Reporting by Charities issued in 2005. Approved by the trustees and si9ned 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.. Page 6 of 12
MADANIA WELFARE TRUST Statement of Financial Activities (Income & Expense Statementl FOR THE YEAR ENDED 31 JULY 2024 2024 Total 2023 Total Notes Unrestricted Restricted Incomlng Resources Voluntary income: Memebership fees For Building {Educalion) Project For Qurbani Project Poor and Needy Projects For Charities For Medical Project For Ramadan & Iftar Project All Other General Donations 89,844 89.844 103,799 Other Income: Donations Via Gift Aid & Just Giving Total Incomin Resources 89,844 89,844 103,799 Resources Expended Direct Charitable Expenditure For Building {Educationl Project For Qurbani Project Poor and Needy Projects Payment to Charities For Medical Project Foi Ramadan & Iftar Project Printing. postage, stationery & Advelisement Telephone, lax and photocopies Rent. Rates and service charges Refreshments Volunteer Expenses Travel & Subsisten 17,500 85,577 113 17.500 85.577 113 2,500 6,500 10,132 37 37 1,385 1,385 176 Direct charitable ex enditure 104,612 104.612 19.308 Management & Administration Expenses: Accountancy Advertising and promotion Bank charges Legal & Professional reciation ement & Administration Ex 1.000 1,000 1,000 60 60 123 750 22 1,895 18 1,078 18 1.078 Mana enses-. Totsl ResouT¢es Ex ended 105,690 105,690 21.203 Net In¢omlng Resources I (resources expended) -15,84e -15,846 82.596 Net Movement funds for the period: -15,846 -15,846 82,596 Total Funds Brought foThvard 110.758 110.758 28.162 Balan¢e at 31 Jul 2024 94,912 94,912 110.758 Page8 0112
MADANIA WELFARE TRUST Summary Income and Expenditure Account FOR THE YEAR ENDED 31 JULY 2024 2024 Notes Income Total expenditure Nel Surplus (Deficill for the financial year 89,844 105.690 -15,846 There were no recognised gains olhef than those included in the Income and Expenditure Account for current year. Page9of 12
MADANIA WELFARE TRUST Statement of Assets & Liabilities ( Balance Sheet) As at 31 JULY 2024 2024 NOTE Fixed Assets Fixture, Fittings and Equipments 105 Current Assets Cash at Bank & in Hand Debtors 89,222 10.000 99.222 Current Liabilities Amount falling due lo one year 4,415 NET CURRENT ASSETS I ILIABILITIESI 94,807 TOTAL ASSETS LESS CURRENT LIABILITIES 94.912 FUNDS: Brought Forward 110.758 Excessl{Deficitl of income over expenditure 15.846 Total Funds 94,912 The financial statements were approved by the Executive Committee and signed on their behalf". Mr Mofiz Ali (Chairperson) Mr Hussain Ahmed (General Secretary) Date.. The Notes on pages 10 to 12 form part of the financial statements. Page 10of 12
MADANIA WELFARE TRUST FOR THE YEAR ENDED 31 JULY 2024 NOTES TO THE ACCOUNTS 1. ACCOUNTING POLICIES a. Basis of Accounting Basis of accounting The Financial Slalements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured al market value. The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller 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 20151 ISORP 20151- 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 induded in incoming resour$ when they are receivable. except when the donors specify that they must be used in future accounting periods or donor5, 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 aGlivity, 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. a5 in the opinion of the trustees. there are no issues arising which would suggest any other basis as being more appropllate. g. Administration Costs Administration expenditure includes all expenditure not directly related to the charitable activity_ h. Taxation As a charity. they are exempl from lax 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. Depreciation: Depreciation is calculated 80 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 Equiptnent". 15.10 on Reducing Balance method Page11 of12
MADANIA WELFARE TRUST FOR THE YEAR ENDED 31 JULY 2024 NOTES TO THE ACCOUNTS 2. FIXED ASSETS COST Fixtures. fillings & lrnprovements Building and Conslruclion Al 01 August 2023 Fixtures and fittings Addilion Al 31 July 2024 123 123 123 123 DEPRECIATION At 01 August 2023 Charge for the year At 31 July 2024 18 18 18 18 NET BOOK VALUE Al 01 Augusl 2023 Al 31 July 2024 123 105 123 105 Net Surplus of the Financial Year The excess of expenditure over income is stated after charging". 2024 Accountants, remuneration Depreciation 1.000 18 1,018 Debtors Loan given 10.000 Creditors and Acruals Interest Free Loan Accountancy 2,325 2.090 4.415 Fund$lCapltal 2024 Balance at 31 July 2023 110,758 Balan at 1 August 2023 110.758 Excessl (Deficit) of Income over Expenditure -15.846 Balance at 31 July 2024 94,912 Page 12of12