CHARITY NUMBER: 1125042
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENT FOR FINANCIAL YEAR ENDING 31 MARCH 2024
AL-FAROOQ TRUST ANNUAL REPORT AND FINANCIAL STATEMENT 23/24
CHARITY NUMBER: 1125042
CONTENTS Page i Trustees Annual Report 1 Independent Examiner’s Report 4 Statement of Financial Activities 5 Me Balance Sheet 6 Notes to Financial Statement 7 US
AL-FAROOQ TRUST TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024
The Trustees declare their annual report and financial statements for the year ended 31st March 2024
Charity Name: - Al-Farooq Trust Charity Number : 1125042 Principal Address of Charity: -
Masjid Al-Farooq 107 Mill Hill Lane
107 Mill Hill Lane Derby DE23 6SB OBJECTS OF THE CHARITY a) To advance the religion of Islam… b) To provide or assist in the provision of facilities in the interests of social welfare, education, i recreation or other leisure time occupation of individuals who have need of such facilities … c) To preserve and protect health and relieve poverty, distress, sickness and infirmity amongst persons resident in Derby, Burton, Nottingham and Mansfield and the surrounding area…. d) To promotion of equality and diversity for the public benefit by advancing education and raising awareness in equality and diversity…….. The full wording of objectives can be found in the Al-Farooq Trust’s Governing document. NAMES OF THE TRUSTEES sTNa The trustees of the charity are as follows: -
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The trustees of the charity are as follows: - 1. Dr. Mohammed Ali Asghar 2. Mr. Asif Khan 3. Mr. Mohammad Jamil 4. Mr. Mohammed Mansha Su
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Mr. Adam Ravat
Chair: Mr. Asif Khan
Vice-Chair: Dr. Mohammed Ali Asghar Secretary: Dr. Mohammed Ali Asghar
The trustees are permanent in nature. The Trustees are volunteers and give their time freely. They receive no remuneration or other benefits.
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STRUCTURE, GOVERNANCE & MANAGEMENT
The Al-Farooq Trust is a Trust governed by its constitution adopted in July 2008. The charity was registered with the Charity Commission in 2008.
The trustees meet as and when required and are responsible for all decisions in relation to the running of the charity.
APPOINTMENT OF TRUSTEES
The existing permanent Trustees are solely responsible for the appointment of new Trustees. RISK MANAGEMENT The trustees seek to take no risks with the running of the charity. The finances of the Charity are kept under constant review. ACTIVITIES & ACHIEVEMENTS Since it was formed The Charity has been actively pursuing premises/facilities to deliver its charitable objectives. i As stated in previous years’ Annual Reports, The Charity purchased the Christadelphian church on Mill Hill Lane, in December 2015 and has since been modifying this to make it suitable as a mosque so that prayers, lectures, religious instructions to children and adults can be delivered. In October 2016 The Trust started to run limited evening classes for children from a nearby mosque, who allowed the use of their premises free of charge. sTNa In May 2017 the renovation of the Christadelphian Church was still not completed but sufficient enough to start the services from there. The renovations have now been completed and the facility is fully operational as Masjid Al-Farooq. This financial year (23/24) the effort has concentrated on continuation of providing a number of services at Masjid Al-Farooq , including daily prayers, evening education classes and speeches. Fund raising has continued so that we can provide these services and continue with the repair/maintenance of the mosque. We have raised sufficient funds to repay the outstanding debt Su and will gradually do this according to demands of the lenders.
The financial review is detailed below.
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FINANCIAL REVIEW
The debt with respect to interest free loans has decreased from year 22/23 due to active fund raising efforts.
As at 31/03/24 there was £155,580 outstanding interest-free loans still to be repaid. This has decreased from last year (£256,580). There were no interest free loans received this year, and £101,000 were repaid.
The Total Income for Year 23/24 – £261,634
The Total Expenditure for Year 23/24 – £251,578
Net movement in funds – £10,056
Funds brought forward from last year (22/23) – £174,696
The bank Balance plus cash in hand at 31[st] March 2024 was £184,752
DECLARATION
I declare in my capacity as Vice-Chair that the Trustees have approved the above report and have authorised me sign on their behalf.
-------------------------------------------------------------------- (Signature)
DR. M. A. ASGHAR
DATE: 26[th] January 2025
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REPORT TO THE TRUSTEES OF AL-FAROOQ TRUST (1125042)
ON THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
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 our responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedure laid down in the General Directions given by the Charity Commission (under section 145 (5)(b) of the Act; and
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to state whether particular matters have come to our attention.
Basis of independent examiner’s statement
Our 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 disclosure 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 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
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(1) which gives me reasonable cause to believe that in material respect the requirements;
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to keep accounting records in accordance with section 130 of the 2011 Act, and
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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.
------------------------------------------------------- (SIGNATURE)
27[th] January 2025
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PROFESSIONAL MEMBERSHIP: INSTITUTE OF FINANCIAL ACCOUNTANTS – Membership No: 192980
RANA AND CO ACCOUNTANTS LIMTED 97 WALBROOK ROAD DERBY DE23 8SF
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER 1125042 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 |
|---|---|---|---|---|---|---|---|---|
| Notes | 23/24 | 22/23 | ||||||
| £ | £ | |||||||
| INCOME RESOURCES | ||||||||
| Donations | 248,959 | 276,570 | ||||||
| Gift Aid | 645 | |||||||
| Sales(Equipment,ZamZam Water,Rental Income) | 12,030 | 175 | ||||||
| Total Incoming Resources | 261,634 | 276,745 | ||||||
| RESOURCES EXPENDED | 2 | |||||||
| Charitable expenditure | 2(b)i) | 150,578 | 137,573 | |||||
| Repayment of Interest Free Loans | 6(h) | 101,000 | 30,000 | |||||
| Total Resources Expended | 251,578 | 167,573 | ||||||
| Net Movement in Funds | 10,059 | 109,172 | ||||||
| Total Funds Brought Forward | 174,696 | 45,542 | ||||||
| Bank Balance 31st March 2024 | 157,266 | |||||||
| Cash in Hand | 27,486 | |||||||
| TOTAL FUNDS | 184,752 | |||||||
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BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024
| AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
AL-FAROOQ TRUST (DERBY) - CHARITY NUMBER:1125042 BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 |
|---|---|---|---|---|---|---|---|---|
| Notes | ||||||||
| 2024(£) | 2023(£) | |||||||
| FIXED ASSETTS | ||||||||
| Freehold Land | 3 | 670,000 | 000 | 650,000 | ||||
| Freehold Buildings | 3 | 570,000 | 000 | 550,000 | ||||
| Equipment | 3 | 23,300 | 300 | 23,000 | ||||
| 1,263,300 | 1,223,000 | |||||||
| CURRENT ASSETS | ||||||||
| Cash at Bank and in hand | 184,752 | |||||||
| CURRENT LIABILITIES | ||||||||
| Interest Free Loans -Qarde Hassanah | 6(h) | (155,580) | (256,580) | |||||
| TOTAL NET CURRENT ASSETS LESS CURRENT LIABILITIES |
||||||||
| 29,172 | 172 | (81,806) | ||||||
| NET ASSETS | 6(g) | 1,252,472 | 1,141,194 | |||||
| FUNDS | ||||||||
| Unrestricted Funds | 1,252,472 | 1,141,194 | ||||||
| Restricted Funds | 0 | 0 | 0 | |||||
| Total Funds | 1,252,472 | 1,141,194 | ||||||
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AL-FAROOQ TRUST (DERBY)
NOTES TO FINANCIAL STATEMENT FOR THE YEAR END 31ST MARCH 2024
1. ACCOUNTING POLICIES
a) Basis of accounting
These accounts have been prepared in accordance with accounting standards, Accounting and Reporting by Charities Statement of Recommended Practise (SORP 2005) and the Charities Act 2022.
2. EXPENDITURE
a) Fees for Examining Accounts
No fees have been charged for examining these accounts.
b) Analysis of Resources Expended
i) Charitable Expenditure
| 23/24(£) | 22/23(£) | |
|---|---|---|
| BuildingRenovation/Repairs - Labour + Materials | 5,958 | 22,403 |
| Equipment | 654 | 1,427 |
| Regulator Fees(OFCOM,ICO etc) | 35 | 727 |
| Office Supplies | 513 | 374 |
| CleaningSupplies & Services | 5913 | 1,473 |
| Insurances | 1,027 | 950 |
| UtilityBills | 10,226 | 12,711 |
| Bank Charges | 295 | 230 |
| Broadband | 830 | 742 |
| Madrassah Materials/Supplies | 2,592 | 744 |
| Salaries Costs(incl PAYE,NIC,Pensions) | 22,016 | 21,534 |
| Professional Services(E.gTutoring,Imamat Services) | 48228 | 42,370 |
| CharityRelief | 23,599 | 31,688 |
| Repayment of Interest Free Loans(Creditors) | 101,000 | 30,000 |
| Training | --- | --- |
| H&S Equipment and Materials | --- | --- |
| Refund of donation | 200 |
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28,692 ---- 251,578 167,573
Hospitality TOTAL
3. FIXED ASSETS
| Building Improvements(£) |
Equipment (£) |
|
|---|---|---|
| At 01 April 2023 | 1,200,000 | 23,000 |
| Additions | 40,000 | 300 |
| Disposals | ------ | --------- |
| At 31 March 2024 | 1,240,000 | 23,300 |
4. TRUSTEES AND OTHER RELATED MATTERS
The Trustees are working purely on a non-paid voluntary basis and no payments are made to them for their time or any business expenses. However, from time to time there is a need to purchase goods/equipment online and as the Trust has no credit or debit card arrangements, the Trustees occasionally use their own credit/debit cards and are then reimbursed for the expenditures.
5. CONTINGENT LIABILITIES
No material liabilities existed at the year-end.
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6. DECLARATION
a) Charges in Year End
The Trustees have established 31[st] March as the financial year end.
b) Designated Funds
The Charity does not have designated funds.
c) Discontinued, Continuing and Acquired Operations
The Charity officially started delivering some limited services which are part of its charitable objectives in October 2016. These were evening classes for children and were delivered from Jamia Hanfia Tahleemul Islam (26 Western Road Derby DE23 6SE). These premises are not owned by the Al-Farooq Trust, but Jamia Hanfia Management kindly allow the use of these premises free of charge.
The mosque (“Masjid Al-Farooq”) on Mill Hill Lane was ready for occupation in May 2017 and this was when the services started there. The girls evening classes remain at 26 Western Road.
d) Inalienable or historic Assets
The 0.5 acre land at Mill Hill Lane Derby and the freehold property adjacent (ex Christadelphian Church) to this land are inalienable assets, which cannot be sold, transferred or given away. These shall remain for use as mosque(s) or mosque(s) construction including provision of vehicle parking for mosque users or any other structures which are needed for the delivery of the Charity’s objectives. These assets shall remain solely for the delivery of the charitable objectives of the Al-Farooq Trust. These have been declared in the balance sheet.
e) Intangible Assets
The Charity has no intangible assets
f) Subsidiaries
The Charity has no subsidiaries
g) Uncapitalised Fixed Assets
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The Charity has no material fixed assets, which have not been capitalised and included in the balance sheet.
h) Qarde Hasana
The Qarde Hasana loans are interest free and over no fixed time period.
i
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