Registered Charity number: 1127886
TIB FOUNDATION
REPORT AND ACCOUNTS
31st March 2023
TIB FOUNDATION
FINANCIAL ACCOUNTS FOR THE PERIOD ENDED 31st March 2023
CONTENTS
| 1 | Administrative Information. | ||
|---|---|---|---|
| 2 | to | 4 | Trustees' Annual Report |
| 5 | Independent Examiner's Report | ||
| 6 | Statement Of Financial Activities. | ||
| 7 | Balance Sheet. | ||
| 8 | to | 9 | Notes to the accounts |
TIB FOUNDATION
ADMINISTRATIVE INFORMATION
TRUSTEES: MR DEWAN AZIZUL HAQUE AZIZUL MR DEWAN SYED BAHADUR RAJA ADDRESS: 85 TOOTHIL ROAD LOUGHBOROUGH LE11 IPN BANKERS: HSBC BANK PLC LOUGHBOROUGH
(1)
TIB FOUNDATION
TRUSTEES ANNUAL REPORT FOR THE PERIOD ENDED 31st March 2023
The trustees present their annual report together with the financial statements for the period 31st March 2023.
1. CONSTITUTION
IMAM BARY JAMIA ISLAMIA MADRASHA WELFARE TRUST is constituted under a trust deed dated 1 May 2007.
The trustees that have served the charity during the period are set out on the administrative information page. The trustees have legal responsibility for the operation of the trust, and a management committee which includes the five trustees are responsible for the day to day affairs of the charity.
No remuneration or expenses are paid to any of the trustees.
In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
The charity changed it's name to TIB Foundation (formerly Imam Bary Jamia Islamia Madrasha Trust).
2. OBJECTIVES
The objectives of the charity as set out in the constitution are as follows:-
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2.1 TO ADVANCE EDUCATION;
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2.2 TO PROMOTE AND PROTECT GOOD HEALTH; AND
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2.3 TO RELIEVE FINANCIAL HARDSHIP
3. ACTIVITIES AND FUTURE PLANS
The trustees constantly review the activities to ensure that they meet the charity's objectives. The trustees in the current year have considered the Charity Commission's general guidance on public benefit and are satisfied the activities provide public benefit.
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TIB FOUNDATION
TRUSTEES ANNUAL REPORT FOR THE PERIOD ENDED 31st March 2023
4. FINANCIAL REVIEW AND RESERVES POLICY
The trustees' reserves policy is to spend all unrestricted funds on charitable activities in any given year. The trustees review the financial health of the charity on a regular basis and ensures a small surplus is made to cover any unforeseen costs. The overall fixed costs of the charity is minimal, therefore the trustees believse a small surplus in any given year is sufficient for the charity for it’s overall financial stability.
The principal income sources continued to be donations collected from general public.
The net incoming resources for the period amounted to £55 and net fund at 31st March 2023 was £1,160.
5. RISK MANAGEMENT
The Trust is responsible for the overseeing of the risks faced by the charity. Detailed considerations of risk are delegated to the trustees of the charity. Risks are identified, assessed and controls established throughout the year.
It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed but is reasonable in relation to the current size of the charity.
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TIB FOUNDATION
TRUSTEES ANNUAL REPORT FOR THE PERIOD ENDED 31st March 2023
6. STATEMENT OF TRUSTEES RESPONSIBILITIES
Charity law require the trustees to prepare financial statement for each financial year which show true and fair view of the state of affairs of the charity and its financial activities for the period. In preparing those financial statements, the trustees are required to:
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A) select suitable accounting policies and then apply them consistently;
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B) make judgements and estimates that are reasonable and prudent;
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C) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
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D) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.
The trustees are responsible for keeping proper accounting records and disclose with reasonable accuracy at any time financial position of the charity and to enable then to ensure that the financial statements comply with the charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on 18/04/2025 and signed on their behalf:
MR DEWAN AZIZUL HAQUE AZIZUL (Trustee)
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TIB FOUNDATION
I report on the accounts of the charity for the period ended 31st March 2023, which are set out on pages 6 to 9.
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 period under section 144(2) of the Charities Act 2011 (the Act) and that an independent is needed.
it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedures 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 my attention.
Basis of the 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 a 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.
Independent Examiner's Report
In the course of my examination, no matter has come to my attention;
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1) which gives me reasonable cause to believe that in, any material respect, the requirements
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To keep proper accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts are prepared which accord with the accounting records and comply
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`` with the accounting requirements of the Act;
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.
…………………………… WE a Ce oe (Saleh Chowdhury FCCA)
Date 18.04.202
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TIB FOUNDATION
Statement of Financial Activities for the period to 31st March 2023
----- Start of picture text -----
Restricted
Unrestricted income
Note funds funds 2023 2022
£ £ £ £
Incoming resources
Income resources from generating funds 3 25,932 - 25,932 43,365
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25,932 25,932 43,365
Resources expended
Charitable activities 4 -
(25,877) (25,877) (43,210)
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(25,877) (25,877) (43,210)
Net incoming/(outgoing) resources
before transfers 55 - 55 155
Total funds brought forward 1,105 - 1,105 950
Total funds carried forward 1,160 - 1,160 1,105
----- End of picture text -----
ALL OF THE ACTIVITIES ARE CONTINUING.
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TIB FOUNDATION
Balance Sheet As At 31st March 2023
| Note Current Assets HSBC Bank Plc 1,160 1,160 NET ASSETS REPRESENTED BY Unrestricted Income Funds 5 The accounts were approved by the trustees on 18.04.2025 |
2023 1,160 1,160 1,160 |
1,105 1,105 |
2022 1,105 1,105 1,105 |
|---|---|---|---|
MR DEWAN AZIZUL HAQUE AZIZUL
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TIB FOUNDATION
Notes to the Accounts for the period to 31st March 2023
1 ACCOUNTING POLICIES
a) Basis of Accounting
The accounts have been prepared under the historical cost convention and complies with the "Accounting and Reporting by Charities : Statement of Recommended Practice on Charity Accounts (Revised 2005)" and Charities Act 2011 as applicable to IMAM BARY JAMIA ISLAMIA MADRASHA WELFARE TRUST.
b) Income
Donations and rent collected are included in the Statement of Financial Activities (SOFA) as soon as they are received.
c) Expenditure
All expenditure, other than that which has been capitalised, is included in the SOFA The value of purchase invoices received before the year end but not paid until after the year end has also been included in the Income and Expenditure Account.
Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
2 INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | income funds | 2023 | 2022 | |
| General public donations | 25,932 | - | 25,932 | 43,365 |
- 3 COSTS OF CHARITABLE ACTIVITIES
| Charitable Expenditure in Bangladesh Bank charges |
Unrestricted funds 25,812 65 25,877 |
Restricted income funds - - - |
2023 25,812 65 25,877 |
2022 43,205 5 43,210 |
|---|---|---|---|---|
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TIB FOUNDATION
Notes to the Accounts for the period to 31st March 2023
4 RELATED PARTY NOTE
In the year donations of £25,812 (2022: £43,205) was received from D F H Chowdhury, who is related to the Trustees of the Charity.
5 UNRESTRICTED FUNDS
| General funds | Balance at 1 April 2022 1,105 |
Incoming Resources 25,932 |
Outgoing Resources (25,877) |
Balance at 31st March2023 1,160 |
|---|---|---|---|---|
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