CHARITY REGISTRATION NUMBER: 1126771 Al Yaqeen Trust Unaudited Financial Statements 31 December 2023 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 2023 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not forni part of the financial statements Detailed statement of financial activities 13
Al Yaqeen Trust Trustees. Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023. Reference and administrative details Registered charity name Al Yaqeen Trust Charfty registratlon nurnber 1126771 Prlnclpal offlce Masjid A Yaqeen 28 Warwick Road Redhill RH1 1BU The trustees A Ahmed M Zamir A Jabbar A Zamir Ind8p8nd8nt èxamlnfrr Brooks Carling Accountants Ltd Highview House. 1 st Floor, Tattenham Crescent Epsom Surrey KT18 5QJ Structure, govornance and management The Trust is governed by its conslrtuliorb, a Trust Deed adopted 30 Juty 2008. Objectlves and actlvltles Our objectives are sel to reflect our faith and Community aims. The Trust's principal activity during the year under review wa5 the advancement of the 151amic faith for the benefit of the public In accordance with the tenets and doctnnes of the Holy Qur'an and Sunnah (The practice of the noble prophet Muhammad (peace be upon himl}.
Al Yaqeen Trust Trustees. Annual Report (continued) Year ended 31 December 2023 Achigvoments and perfomance The principal activities of Al Yaqeen Tnjst during the financial year were.. al The promotion of any charitsble causes amongst Muslims in United Kingdom and overseas. bl The relief of povety, alleviation of suffefing 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. Fln•n¢lal revlew The charity mel its financial outgoings wlh donations received. In the period there was a nel surplus of £18,13612022.' £20,526). This surplus is being held to secure the continuation of the charity and to ensure that il has sufficient reserves lo meet its future commitments. The property that the Trust occupies has been purchased by the El Rahma Charity Trust. This was done partly wlh a contribution of £101,000 from the Trust. Al Yaqeen Trust has been given sole use of the property for the achievement of ils objectives. Plan8 for futurn porl¢>ds The Trust is in the process of extending ils premises to improve and expand facilities for current worshippers and lo provide more inclusive services lo the IcKal community. Ils plans include.. New ablution facilities, separate for male and female worshippers. New improved healing arsd 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 lo be rolled out within the next year. The Iruslees, annual report was approved on 17 October 2024 and signed on behalf of the board of trustees by.. M Zamir Trustee
Al Yaqeen Trust Independent Examiner's Report to the Trustees of Al Yaqeen Trust Year ended 31 December 2023 I report to the Iruslees on my examination of the financial statements of AJ Yaqeen Trust {'the charity'l for the year ended 310ecember 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financ1 statements in accordance with the requirements of the Charities Act 20111'the Act,). I report in respect of my examinatson of the charity's financial stalements 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 14515llbl of the Act. Independent examiner's ststement I have completed my examination. I confim) that no material matters have come lo my attention in connection with the examination giving me cause lo beIve that in any material respect.. accounting records were not kept in respect of the chanty as required by sects'on 130 of the Act,. or the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements concerning the fomi and conlenl of accounts sel out in the chanb.es (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true and fairf 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 lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. 8rooks Carling A¢¢ountants Ltd Independent Examiner Highview House, 1st Floor, Tattenham Crescent Epsom Surrey KT18 5QJ
Al Yaqeen Trust Statement of Financial Activities Year ended 31 December 2023 2023 Unrestn'cted funds Total funds Totsl funds 2022 Income and endowments Donations and legacies Total income 62,979 62,979 54,026 62,979 62,979 54,026 Expenditure Expenditure on raising funds". Investment management Costs Expenditure on eharrtable 8eb'vilies Total expenditure 2,113 42,730 2,113 42,730 3,442 30,058 44,843 44,843 33,500 Net income and net rnovement in funds 18,136 18,136 20,526 ReconcS11otlon of funds Total funds brought forward Total funds carrled forward 407,425 407,425 386,899 425,561 425,561 407,425 The 51atemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The notes on pages 6 to 11 fom) part of these financial statements.
Al Yaqeen Trust Statement of Financial Position 31 December 2023 2023 2022 Fixgd assets Tangible fixed assets 10 222,410 222,410 Current ass915 Debtors Cash at bank and in hand 11 101,000 136,045 101,000 117,468 237,045 218,468 Croditors: amounts falling due within one year Net current assets 12 33,894 33,453 203,151 185,015 Total assets less current liabilities 425,561 407,425 Net assets 425,561 407,425 Funds ofthe charlty Unreslricled funds 425,561 407,425 Total charlty funds 13 425,561 407,425 These financial slalements were approved by the ard of Iruslees and aulhorised for issue on 17 October 2024, and are signed on behalf of the board by.. M Zamir Trustee The notes on pages 6 to 11 fom) part of these financial statements.
Al Yaqeen Trust Notes to the Financial Statements Year ended 31 December 2023 Gengral information The charity is a publ benefil entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 28 Warwick Road, Redhill, Surrey, RH1 1 BU. Statement of cornpliance 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 Slalement of Recommended Practi applicable lo chariti'es prepanng their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charitses Act 2011. Accounting pollcles 8a$l$ ol prepar•tlon The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilrties and investment properties measured al fair value through income or expenditure. The financial statements are prepared in sterting, which is the functional currency of the entity. Golng ¢on¢frrn There are no material uncertaintses about the charity's ability lo conts'nue. Fund accountlng Unreslricled funds are available for use al 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 restnctions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of tsvo sub<lasses.' reslricled Income funds or endowment funds.
Al Yaqeen Trust Notes to the Financial Statements (conlinue(lJ Year ended 31 December 2023 Accounting policigs (conlinued) Incoming resources All incoming resources are included in the stslemenl of financial activities when entitlement has passed lo the charity., it is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The folk)wing specific policies are applied lo 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 entiuement 15 established. in¢ome from donated goods 1$ measured at the fair value of the goods unless this is impra¢lical to measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donaled facilib.es and services are recognised in the accounts when received if the value can be reliably measured. No amounts a included for the contribution of general volunteers. income from ¢onlra¢ts for the suppty of serwices is recognised with the delivery of the contracted service. This is Classified as unreslricled funds unless Ihere is a ¢onlra¢lual requirement for it to be Spent on a particular purpose and retumed if unspent, in which case it may be garded as restricted. Resources expended Expenditure is re¢ognised on an a¢¢ruals basis as a liability is in¢yrred. Expenditure includes any VAT which Cannot be fully re¢overed, and is dassif*d under headings of the stslement of financial a¢livilie$ to which it relates.. expenditure on raising funds includes the costs of all fundraising acts'vities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activrties includes all costs incurred by a charity in undertaking activit'es that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned lo charitable activit'es. other expenditure includes all expenditure that is neither relaled lo raising funds for the charity nor part of rts expenditure on charitable activrties. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consislenl basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently slated al cost less any accumulated depreciation and impaimienl losses. Any tangible assets carried at revalued amounts are recorded al the fair value al the dale of revalualion less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Al Yaqeen Trust Notes to the Financial Statements (conlinue(lJ Year ended 31 December 2023 Accounting policigs (conlinued) Tangiblg assets {ne} 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 slalement of financial aclivilies. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except lo which it offsets any Pfevious revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial actNities. Depreciation Depreciation is calculated so as lo 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 Equipment 25% reducing balance 25% reducing balance Imp•lrm6nt of fSxod a880ts A review for indicators of impairment is carried out al each reporting dale, with the recoverable amount being eslimaled 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 lesling, when il is not possible lo estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash-generaling unit to which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash infh)ws that largely independent of the cash inflows from other assets or groups of assets. For impairment lesling of goodwill. the goodwill acquired in a business combination is, from the acquisition dale, allocated lo each of the cash-generaling units that are expected lo 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 inslrumenL Basic financial instruments are inrtially 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 lo be paid or reIved and not discovnted. Debt instruments are subsequently measured at amortised cosL Where investments in shares are publicty traded or their fair value can otherwise be measured reliably, the investment is svbsequenvy measured at fair value wrth changes in fair value recognised
in income and expenditure. All olher such investments are subsequently measured al cost less impairment.
Al Yaqeen Trust Notes to the Financial Statements (conlinue(lJ Year ended 31 December 2023 Accounting policigs (conlinued) Financial instruments Other financial instnjments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms Of financed al a rale of interest that is not a market rate, in which case the asset is measured al the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are sUbseqUenY measured al fair value, with any changes recognised in the slalemenl of financial activities. with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised cosl are reviewed for objective evidence of impairment al the end of each reporting dale. 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 inib'al gain was recc%Jnised. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assessed individualty 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. lo the exlenl 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 reccgnised. Donatlon8 and1ogacl•s Unrestricted Total Funds UnreStred Total Funds Funds 2023 Funds 2022 Donations Oonalions receivable 62.979 62,979 54,026 54,026 Investment managèmènt costs UnTeslricted Total Funds Unrestrrted Totsl Funds Funds 2023 Funds 2022 Property costs, repairs and maintenance charges 2.113 2,113 3,442 3,442 Expendlture on charltable actlvltles by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Primary actwity Support costs 41.265 1,465 41.265 1.465 27,361 2,697 30,058 27,361 2,697 30,058 42.730 42.730
Al Yaqeen Trust Notes to the Financial Statements (conlinue(lJ Year ended 31 December 2023 Expgnditure on charitsblo activities by activity type Activities undertaken directly Supwrt costs Total funds 2023 Total fund 2022 Primary activity Governance costs 41,265 41,265 1,465 27,361 2,697 1,465 41,265 1,465 42,730 30,058 Independent examination fees 2023 2022 Fees payable to the independent examiner for. Independent examination of the financial statements 600 600 Trustee rnmunoratlon and expènses No remuneration or other benefits from employment with the charity or a related ents'ty were receiv8d by the Iruslees. 10. Tanglble flxed assets Long leasehold Fixtures and property fitting$ Equipment Total Cost At 1 January 2023 and 31 Deeembor 2023 222,410 2,104 2,026 226,540 Depreciation At 1 January 2023 and 31 Do¢embor 2023 2,104 2,026 4,130 Carrying arnount At 31 December 2023 222,410 222,410 At 31 Decemter 2022 222,410 222,410 11. Debtors 2023 2022 Other debtors 101.000 101,000 10
Al Yaqeen Trust Notes to the Financial Statements (conlinue(lJ Year ended 31 December 2023 12. Creditors: amounts falling dug within one year 2023 2022 Accruals and deferred income Social security and other taxes Other creditors 744 1.015 32.135 2,409 24 31,020 33,894 33,453 13. Analys18 of charltable funds Unrestrfcted funds At 1 January 202 At 31 December 2023 Income Expenditure General funds 407.425 62,979 144,8431 425,561 At 1 January 202 Al 31 December 2022 Income Expenditure General funds 386,899 54.026 133,5001 407,425 11
Al Yaqeen Trust Management Infomiation Year ended 31 December 2023 The followlng pages do nol fomi part of tho flnan¢lal $tstoments. 12
Al Yaqeen Trust Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Incomg and endowments Donations and legacies Donations receivable 62,979 54,026 Total income 62,979 54,026 ExpendSture Investment management costs Property costs, repairs and maintenance char9es 2,113 3,442 Expenditure on charftable actlvltles Wages and salaries Light and heal Legal and profesSn¥1 fees Telephone Other office costs Bank charges Donations made Miscellaneous expenses 21,527 5.$60 1,465 $47 832 528 11,311 960 20,144 4,043 2,697 1,022 864 394 894 42,730 30,058 Total expendlture 44,843 33,500 Net Income 18,136 20,526 13