Registered number 05568881
Faizan -E - Rasool Education Centre Limited
Report and Accounts
30 September 2022
Faizan -E - Rasool Education Centre Limited Report and accounts Contents
| Page | |
|---|---|
| Company information | 1 |
| Directors' report | 2 |
| Accountants’ report | 3 |
| Profit and loss account | 4 |
| Balance sheet | 5 |
| Statement ofchanges in equity | 6 |
| Notestotheaccounts | 7 |
Faizan -E - Rasool Education Centre Limited Company Information
Directors Mr Rasool Bakhsh
Accountants SAEED ACCOUNTANCY LTD Chartered Certified Accountants 59 Sandhurst Avenue Birmingham West Midlands B36 8EJ
Registered office 95-97 Drews Lane Birmingham B8 2QE Registered number 05568881
FI
Faizan -E - Rasool Education Centre Limited Registered number: 05568881 Directors’ Report
The directors present their report and accounts for the year ended 30 September 2022.
Directors
The following persons served as directors during the year:
Mr Rasool Bakhsh
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 17 March 2023 and signed on its behalf.
Mr Rasool Bakhsh Director
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Faizan -E - Rasool Education Centre Limited
Accountants’ Report
Accountants’ report to the directors of
Faizan -E - Rasool Education Centre Limited
| report on the accounts of the company for the year ended 30 September 2022.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The 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 my responsibility to:1. examine the accounts under section 145 of the 2011 Act:, 2. follow the procedures laid down in the general Directions given by the charity commission under section 145(5)(b) of the 2011 Act; and 3.state whether particular matter have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the 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 disclosures in the accounts, and seeking explanations from you as 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 to those matters set out in the statement below. In accordance with our engagement letter, and in order to assist you to fulfil your duties under the charities commission, we have compiled the financial statements of the charity which comprise the accounting records and information and explanation you have given to us.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
- Which give me reasonable cause to believe that in any material respect the requirements: i. to keep accounting records in accordance with section 386 of the companies Act 2006; and ii. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the companies Act 2006 and with the methods and principles of the Statement of recommended practice: Accounting and reporting by charities have not been met; 2. To which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. It is your duty to ensure that Faizan-E-Rasool Education Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit and loss of Faizan-E-Rasool Education Centre Limited. You consider that Faizan-E-Rasool Education Centre Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of FaizanE-Rasool Education Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
SAEED ACCOUNTANCY LTD
Chartered Certified Accountants
59 Sandhurst Avenue Birmingham West Midlands B36 8EJ
17 March 2023
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Faizan -E - Rasooi Education Centre Limited Profit and Loss Account for the year ended 30 September 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Turnover | 63,192 | 69,026 |
| Administrativeexpenses | (42,080) | (42,021) |
| Operating profit | 24,112 | 27,005 |
| Interest payable | (765) | - |
| Profitbefore taxation | 20,347 | ~—-27,005 |
| Tax on profit | - | = |
| Profitforthe financial year | 720,347 | a27,005 |
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Faizan -E - Rasool Education Centre Limited Registered number: 05568881 Balance Sheet
as at 30 September 2022
| Notes | 2022 | 2021 | ||
|---|---|---|---|---|
| Fixed assets | £ | £ | ||
| Tangible assets 3 |
213,588 | 213,588 | ||
| Current assets | ||||
| Cash atbankand in hand 16,980 |
23,240 | |||
| Netcurrentassets 7 a |
16,980 | a | 23,240 | |
| Totalassets lesscurrent liabilities |
OC 230,568 |
a 236,828 |
||
| Creditors: amounts falling due | ||||
| aftermorethanoneyear 4 |
(23,393) | (50,000) | ||
| Netassets | 207,175 | 186,828 | ||
| Capital and reserves | ||||
| Profitand lossaccount | 207,175 | 186,828 | ||
| Shareholders’funds | 207,175 | 186,828 | ||
| The directors are satisfied that thecompany is entitled an audit under section 477 ofthe Companies Act2006. |
toexemption from the requirement to obtain | |||
| The members have not required thecompany to obtain the Act. |
an audit in accordance with section 476 of | |||
| The directors acknowledge their responsibilities for CompaniesAct2006with respect toaccounting recordsand |
and |
complying with the requirements of the andthe preparation ofaccounts. |
||
| The accounts have been prepared and delivered in applicable tocompanies subjecttothesmallcompanies been delivered to the RegistrarofCompanies. |
accordance with the special provisions regime. The profitand loss accounthas not |
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| Mr Rasool Bakhsh |
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| Director | ||||
| Approvedbytheboardon17March2023 |
5
Faizan -E - Rasool Education Centre Limited Statement of Changes in Equity for the year ended 30 September 2022
| Share capital |
Share premium |
Re- valuation |
Profit and loss |
Total | |
|---|---|---|---|---|---|
| £ | £ | reserve £ |
account £ |
£ | |
| At 1 October2020 | |||||
| - | - | - | 159,823 | 159,823 | |
| Profitforthefinancialyear | 27,005 | 27,005 | |||
| At30September2024 | Se | 186,828 | 186,828 | ||
| At 1 October 2021 | |||||
| - | - | - | 186,828 | 186,828 | |
| Profitforthefinancialyear | 20,347 | 20,347 | |||
| At30September2022 | os.e.hhlU207,175 | 207.175 |
a
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Faizan -E - Rasool Education Centre Limited Notes to the Accounts for the year ended 30 September 2022
- 1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the Stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Freehold buildings Leasehold land and buildings Plantand machinery Fixtures,fittings,toolsandequipment |
over50years overthe lease term over 5 years over5years |
|---|---|
Investments Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
F
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Faizan -E - Rasool Education Centre Limited Notes to the Accounts for the year ended 30 September 2022
Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset iS recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment Property where the tax nora t ediscounted. that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as 4 result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical Profitcost areor translatedloss. at the rate ruling at the date of the transaction. All differences are charged to
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to Ownership. All other leases are Classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease Payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term overand i t she usefulleaselift e .rm.Operating lease Payments are recognised as an expense ona straight line basis
Pensions Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees
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2022 2021
Number Number
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— ——— —=
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Faizan -E - Rasool Education Centre Limited Notes to the Accounts for the year ended 30 September 2022
5
5
Average number of persons employed by the company
3 Tangible fixed assets
| Land and | |||
|---|---|---|---|
| Cost At 1 October 2021 |
buildings £ |
||
| At 30 September 2022 | ___ 213,588 | ||
| Depreciation | 213,588 | ||
| At 30 September2022 | ee | ||
| 2 | |||
| Net book value | |||
| At30 September2022 | |||
| At 30 September2021 | 213,588 | ||
| 213,588 | |||
| 4 | Creditors:amountsfallingdueafteroneyear | 2022 | 2021 |
| Bank loans | £ | £ | |
| 23,393 | 50,000 |
5 Other information
incorporatedFaizan -E - inRasoolEngland.EducationIts registeredCentreofficeLimitedis: is a private company limited by shares and 95-97 Drews Lane Birmingham B8 2QE
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Faizan -E - Rasool Education Centre Limited Detailed profit and loss account for the year ended 30 September 2022 This schedule does not form part of the Statutory accounts
| 2022 | 2021 | |
|---|---|---|
| Sales | £ | £ |
| Administrative expenses | 63,192 | 69,026 |
| Operating profit | (42,080) | (42,021) |
| Interest payable | 21,412 | 27,005 |
| (765) | 2 | |
| Profitbeforetax | 20347 44,947 |
27,005 41,009_ |
eee
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Faizan -E . Rasool Education Centre Limited Detailed Profit and loss account for the year ended 30 September 2022 This schedule does not form Part of the Statutory accounts
,
| Sales Sales |
2022 £ |
2021 £ |
|---|---|---|
| Administrative expenses Employee Costs: Wagesand Salaries Directors’ Salaries Motor expenses Premises costs: Rat |
63,192 19,775 13,901 465 34,141 |
69,026 21,640 12,933 1,044 35,617 oO |
| Light and heat General administrative expenses: Telephoneand internet Bank charges Repairs and maintenance Credit card charges Legal and Professional costs: Advertising and PR |
490 2,576 534 320 3,955 64 —___ 4,873 |
1,542 2,282 514 433 566 67 —1,580_ |
| oe | _____ 1,000 | |
| 42080 | 42.021 |
441