**CHARITY REGISTRATION NUMBER: 1126771**
## **Al Yaqeen Trust Unaudited Financial Statements 31 December 2022**
## **BROOKS CARLING ACCOUNTANTS LIMITED**
Reporting accountants and independent examiners Highview House, 1st Floor, Tattenham Crescent Epsom Surrey KT18 5QJ
## **Al Yaqeen Trust**
## **Financial Statements**
## **Year ended 31 December 2022**
||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**3**|
|Statement of financial activities|**4**|
|Statement of financial position|**5**|
|Notes to the financial statements|**6**|
|**The following pages do not form part of the financial statements**||
|Detailed statement of financial activities|**13**|
## **Al Yaqeen Trust**
## **Trustees' Annual Report**
## **Year ended 31 December 2022**
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.
## **Reference and administrative details**
**Registered charity name** Al Yaqeen Trust **Charity registration number** 1126771 **Principal office** Masjid Al Yaqeen 28 Warwick Road Redhill RH1 1BU **The trustees** A Ahmed M Zamir A Jabbar A Zamir **Independent examiner** David Earwicker FCA Highview House, 1st Floor, Tattenham Crescent Epsom Surrey KT18 5QJ
## **Structure, governance and management**
The Trust is governed by its constitution, a Trust Deed adopted 30 July 2008.
## **Objectives and activities**
Our objectives are set to reflect our faith and community aims.
The Trust’s principal activity during the year under review was the advancement of the Islamic faith for the benefit of the public in accordance with the tenets and doctrines of the Holy Qur’an and Sunnah (The practice of the noble prophet Muhammad (peace be upon him)).
**1**
**Year ended 31 December 2022**
## **Al Yaqeen Trust**
**Trustees' Annual Report** _**(continued)**_
## **Achievements and performance**
The principal activities of Al Yaqeen Trust during the financial year were:
a) The promotion of any charitable causes amongst Muslims in United Kingdom and overseas.
b) The relief of poverty, alleviation of suffering caused by mental health, social, economic circumstances, emotional, personal and family problems through the counselling service or other means as appropriate.
The Friday prayers are attended by around a couple of hundred individuals and an even bigger number in the fasting month of Ramadhan.
## **Financial review**
The charity met its financial outgoings with donations received. In the period there was a net surplus of £20,526 (2021: £11,671). This surplus is being held to secure the continuation of the charity and to ensure that it has sufficient reserves to meet its future commitments. The property that the Trust occupies has been purchased by the El Rahma Charity Trust. This was done partly with a contribution of £101,000 from the Trust. Al Yaqeen Trust has been given sole use of the property for the achievement of its objectives.
## **Plans for future periods**
The Trust is in the process of extending its premises to improve and expand facilities for current worshippers and to provide more inclusive services to the local community. Its plans include:
- New ablution facilities, separate for male and female worshippers.
- New improved heating and cooling system to control climate of prayer areas and to provide warm water for ablution.
Completion of the works is expected by 2026.
The Trust is widening the scope of its education services. Some Arabic language courses commenced this year, with the remainder to be rolled out within the next year.
The trustees' annual report was approved on 31 October 2023 and signed on behalf of the board of trustees by:
M Zamir Trustee
**2**
## **Al Yaqeen Trust**
## **Independent Examiner's Report to the Trustees of Al Yaqeen Trust**
## **Year ended 31 December 2022**
I report to the trustees on my examination of the financial statements of Al Yaqeen Trust ('the charity') for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
D Earwicker
David Earwicker FCA Independent Examiner
Highview House, 1st Floor, Tattenham Crescent Epsom Surrey KT18 5QJ
31 Oct 2023
**3**
## **Al Yaqeen Trust**
## **Statement of Financial Activities**
## **Year ended 31 December 2022**
|||**2022**|**2022**|2021|
|---|---|---|---|---|
|||Unrestricted|||
|||funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|£|
|**Income and endowments**|||||
|Donations and legacies|**4**|54,026|54,026|43,525|
|||``|``|``|
|**Total income**||54,026|54,026|43,525|
|||``|``|``|
|**Expenditure**|||||
|Expenditure on raising funds:|||||
|Investment management costs|**5**|3,442|3,442|6,928|
|Expenditure on charitable activities|**6,7**|30,058|30,058|24,926|
|||``|``|``|
|**Total expenditure**||33,500|33,500|31,854|
|||``|``|``|
|||``|``|``|
|**Net income and net movement in funds**||20,526|20,526|11,671|
|||``|``|``|
|**Reconciliation of funds**|||||
|Total funds brought forward||386,899|386,899|375,228|
|||``|``|``|
|**Total funds carried forward**||407,425|407,425|386,899|
|||``|``|``|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 6 to 11 form part of these financial statements.**
**4**
## **Al Yaqeen Trust**
## **Statement of Financial Position**
## **31 December 2022**
|||**2022**|2021|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**10**|222,410|222,410|
|**Current assets**||||
|Debtors|**11**|101,000|101,000|
|Cash at bank and in hand||117,468|94,089|
|||``|``|
|||218,468|195,089|
|**Creditors: amounts falling due within one year**|**12**|33,453|30,600|
|||``|``|
|**Net current assets**||185,015|164,489|
|||``|``|
|**Total assets less current liabilities**||407,425|386,899|
|||``|``|
|**Net assets**||407,425|386,899|
|||``|``|
|**Funds of the charity**||||
|Unrestricted funds||407,425|386,899|
|||``|``|
|**Total charity funds**|**13**|407,425
``|386,899
``|
These financial statements were approved by the board of trustees and authorised for issue on 31 October 2023, and are signed on behalf of the board by:
M Zamir Trustee
**The notes on pages 6 to 11 form part of these financial statements.**
**5**
## **Al Yaqeen Trust**
## **Notes to the Financial Statements**
## **Year ended 31 December 2022**
## **1. General information**
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 33 Budgen Drive, Redhill, Surrey, RH1 2QB.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
**6**
## **Al Yaqeen Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **3. Accounting policies** _**(continued)**_
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
**7**
## **Al Yaqeen Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **3. Accounting policies** _**(continued)**_
## **Tangible assets** _**(continued)**_
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 25% reducing balance Equipment - 25% reducing balance
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Financial instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised
**8**
in income and expenditure. All other such investments are subsequently measured at cost less impairment.
**8**
## **Al Yaqeen Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **3. Accounting policies** _**(continued)**_
## **Financial instruments** _**(continued)**_
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
## **4. Donations and legacies**
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|**Donations**|||||
|Donations|54,026|54,026|43,525|43,525|
||``|``|``|``|
|**Investment management costs**|||||
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Property repairs and maintenance|||||
|charges|3,442|3,442|6,928|6,928|
||``|``|``|``|
|**Expenditure on charitable activities**|**by fund type**||||
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Primary activity|27,361|27,361|24,325|24,325|
|Support costs|2,697|2,697|601|601|
||``|``|``|``|
||30,058|30,058|24,926|24,926|
||``|``|``|``|
## **5. Investment management costs**
## **6. Expenditure on charitable activities by fund type**
**9**
## **Al Yaqeen Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **7. Expenditure on charitable activities by activity type**
||Activities||||
|---|---|---|---|---|
||undertaken||**Total funds**|Total fund|
||directly Support costs||**2022**|2021|
||£|£|**£**|£|
|Primary activity|27,361|–|27,361|24,325|
|Governance costs|–|2,697|2,697|601|
||``|``|``|``|
||27,361|2,697|30,058|24,926|
||``|``|``|``|
|**Independent examination fees**|||||
||||**2022**|2021|
||||**£**|£|
|Fees payable to the independent examiner for:|||||
|Independent examination of the financial statements|||600|600|
||||``|``|
**8. Independent examination fees**
## **9. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
## **10. Tangible fixed assets**
|||Long||||
|---|---|---|---|---|---|
|||leasehold|Fixtures and|||
|||property|fittings|Equipment|**Total**|
|||£|£|£|**£**|
||**Cost**|||||
||**At 1 January 2022 and**|||||
||**31 December 2022**|222,410|2,104|2,026|226,540|
|||``|``|``|``|
||**Depreciation**|||||
||**At 1 January 2022 and**|||||
||**31 December 2022**|–|2,104|2,026|4,130|
|||``|``|``|``|
||**Carrying amount**|||||
||**At 31 December 2022**|222,410|–|–|222,410|
|||``|``|``|``|
||At 31 December 2021|222,410|–|–|222,410|
|||``|``|``|``|
|**11.**|**Debtors**|||||
|||||**2022**|2021|
|||||**£**|£|
||Other debtors|||101,000|101,000|
|||||``|``|
**10**
## **Al Yaqeen Trust**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2022**
## **12. Creditors: amounts falling due within one year**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Accruals and deferred income|2,409|600|
|Social security and other taxes|24|–|
|Other creditors|31,020|30,000|
||``|``|
||33,453|30,600|
||``|``|
## **13. Analysis of charitable funds**
## **Unrestricted funds**
|**Unrestricted funds**||||||
|---|---|---|---|---|---|
|||At|||**At**|
||1|January 202||**31**|**December**|
|||2|Income|Expenditure|**2022**|
|||£|£|£|£|
|General funds||386,899|54,026|(33,500)|407,425|
|||``|``|``|``|
|||At|||At|
||1|January 202||31|December|
|||1|Income|Expenditure|2021|
|||£|£|£|£|
|General funds||375,228|43,525|(31,854)|386,899|
|||``|``|``|``|
**11**
**Al Yaqeen Trust**
**Year ended 31 December 2022**
## **Management Information**
**The following pages do not form part of the financial statements.**
**12**
## **Al Yaqeen Trust**
## **Detailed Statement of Financial Activities**
## **Year ended 31 December 2022**
||**2022**|2021|
|---|---|---|
||**£**|£|
|**Income and endowments**|||
|**Donations and legacies**|||
|Donations|54,026|43,525|
||``|``|
||``|``|
|**Total income**|54,026|43,525|
||``|``|
|**Expenditure**|||
|**Investment management costs**|||
|Property repairs and maintenance charges|3,442|6,928|
||``|``|
|**Expenditure on charitable activities**|||
|Wages and salaries|20,144|20,040|
|Light and heat|4,043|2,296|
|Legal and professional fees|2,697|601|
|Telephone|1,022|1,017|
|Other office costs|864|202|
|Bank charges|394|234|
|Miscellaneous expenses|894|536|
||``|``|
||30,058|24,926|
||``|``|
||``|``|
|**Total expenditure**|33,500|31,854|
||``|``|
||``|``|
|**Net income**|20,526|11,671|
||``|``|
**13**
**Issuer** Brooks Carling Accountants Ltd **Document generated** Tue, 31st Oct 2023 11:32:40 UTC **Document fingerprint** 8b58b6a23262987af250c0010bf0b47e
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
Tue, 31st Oct 2023 11:48:03 UTC Mr Muhammad Zamir - Signer (a4d2892886329a371724d76c3f4f255d) Tue, 31st Oct 2023 11:53:04 UTC Brooks Carling - Signer (6fa40bd4f713b8084a242e2c34a2e468)
## **Audit history log**
**Date Action** Tue, 31st Oct 2023 11:53:04 UTC Brooks Carling viewed the envelope. (79.78.177.22) Tue, 31st Oct 2023 11:53:04 UTC This envelope has been signed by all parties (79.78.177.22) Tue, 31st Oct 2023 11:53:04 UTC Brooks Carling signed the envelope (79.78.177.22) Tue, 31st Oct 2023 11:52:38 UTC Brooks Carling viewed the envelope. (79.78.177.22) Tue, 31st Oct 2023 11:48:06 UTC Document emailed to party email (13.40.98.187) Tue, 31st Oct 2023 11:48:04 UTC Mr Muhammad Zamir viewed the envelope. (86.20.89.2) Tue, 31st Oct 2023 11:48:03 UTC Sent the envelope to Brooks Carling for signing (86.20.89.2) Tue, 31st Oct 2023 11:48:03 UTC Mr Muhammad Zamir signed the envelope (86.20.89.2) Tue, 31st Oct 2023 11:45:18 UTC Mr Muhammad Zamir viewed the envelope. (86.20.89.2) Tue, 31st Oct 2023 11:32:49 UTC Document emailed to party email (13.40.98.187) Tue, 31st Oct 2023 11:32:41 UTC Sent the envelope to Mr Muhammad Zamir for signing. (35.178.173.43) Tue, 31st Oct 2023 11:32:41 UTC Envelope has been set to automatically remind the active signer every 1.0833333333333 day(s). (35.178.173.43) Tue, 31st Oct 2023 11:32:41 UTC Brooks Carling has been assigned to this envelope. (35.178.173.43) Tue, 31st Oct 2023 11:32:41 UTC Mr Muhammad Zamir has been assigned to this envelope. (35.178.173.43) Tue, 31st Oct 2023 11:32:41 UTC Envelope generated. (35.178.173.43) Tue, 31st Oct 2023 11:32:41 UTC Document generated with fingerprint 8b58b6a23262987af250c0010bf0b47e. (35.178.173.43) Tue, 31st Oct 2023 11:32:40 UTC Envelope generated with fingerprint c406fbce0d2b4ac6981e3764de3fdd33 (18.133.63.166)