Charity registration number: 1129424
Al-Qayoom Foundation International
Annual Report and Financial Statements for the Year Ended 31 December 2023
AWR Accountants Limited Lawrence House 37 Nomanton Road Derby Derbyshire DEI 2GJ
Al-Qayoom Foundation International
Contents (continued)
Reference and Administrative Details
Trustees' Report
1
Accountants' Report' 4 Independent Examiner's Report 5
Statement of Financial Activities Balance Sheet 7 Notes to the Financial Statements
6
Reference and Administrative Details
Senior Management I Leadership Mr Mohammed Abdul Qayoom Khan, Chairman Team Mr Syed Abid Hussain Shah Kazmi, Trustee
Mr Abdul Rehman, Tmstee
Charity Registration Number 1 129424 Principal Office 64 Victor Street Walsall 4HZ Independent Examiner AWR Accountants Limited Lawrence House 37 Normanton Road Derby Derbyshire DEI 2GJ
Al-Qayoom Foundation International
Accountants
AWR Accountants Limited Lawrence House 37 Notmanton Road Derby Derbyshire DEI 2GJ
I
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Al-Qayoom Foundation International
Trustees' Report
The trustees present the annual report together with the financial statements of the charity fot the year ended 31 December 2023.
Objectives and activities
Objects and aims
To advance educating poor students, Including education in thc Islamic faith. Alleviation of poverty and to promote sustainable livelihoods.
Medical assistance to needy people to relieve sickness and reserve ood health
Public benefit
Fund schools which provide education to poor and needy children.
Provide sponsorship to orphan children.
Provide books and other learning materials to children from disadvantaged backgrounds. To financially help widows.
To provide necessary skills and training to sustain independent livelihoods.
To distribute funds to humanitarian projects which will help the supply of food to the poor.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 201 L to have due regard to the public benefit guidance publishcd by the Charity Commission for England and Wales.
Achievements and performance
Provide sewing machines.
Provide sewing machine training. Provide free eye camps. Provide food parcels during Ramadan and Eid.
Established links with deaf and dumb school in Kotli Azaad Kashmir in order to donate and fund projects
Financial review
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Al-Qayoom Foundation International
Cash Resources at year end was 101,883.38, Un-Restricted Funds stands at E75,464.
Trustees' Report (continued)
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the tnustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP; make judgements and estimates that are
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reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The nustees are responsible for the maintenance and integrity of the corporate and financial infomation included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other
The annual report was approved by the trustees of charity the
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M. A. anyooM K-HAM
Mr Mohammed Abdul Qayoom Khan
Tlustee
arid signed on its behalf by:
Chartered Certified Accountants' Report to the Trustees•on the Preparation of the Unaudited Statutory Accounts of AlQayoom Foundation International for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Al-Qayoom Foundation International for the year ended 31 December 2023 as set out on pages 6 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.coln/gb/en/member/standards/ rules-andstandards/rulebook.htm.
This report is made solely to the board of directors of Al-Qayoom Foundation In-temational, as a body, in accordance with the terrns of our engagement letter dated 3 July 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Al-Qayoom Foundation International and state those matters that we h_ave agreed to state to the board of directors of-Al-Qayoom Foundation International, as- a body, in this report, in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accag[obal.com/gb/en/technical„activities/technical-resources-search/2009/ october/factsheet-163-audit-exemptcompanies.html. To the fullest.extent permitted by law, we do not accept or assume responsibility to anyone other than AlQayoom Foundation International and its board of directors as a body for our work or for this report.
it is your duty to ensure that Al-Qayoom Foundation International has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the• asséts,• liabilities, financial position and of Al-Qayoom Foundation International. You consider that Al-Qayoom Foundation International is exempt from the statutory audit requirement for the year.
We have not been insttucted to carry out an audit or a review of the accounts of Al-Qayoom Foundation International. 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 statut01Y accounts.
AWR Accountants Limited
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Al-Qayoom Foundation International
Lawrence House 37 Nonnanton Road Derby Derbyshire DEI 2GJ
Date:........ . .
Independent Examiner's Report to the trustees of Al-Qayoom Foundation International
I report to the trustees on my examination of the accounts of Al-Qayoom Foundation International for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of Al-Qayoom Foundation International you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 201 1 ('the Act').
I report in respect of my examination of the A[-Qayoom Foundation International's accounts 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:
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accounting records were not kept in respect of Al-Qayoom Foundation International as required by section 130 of the Act; or
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thé accounts do not accord with those records; or
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the accounts do not comply with the accounting 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 concems 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.
Waheed Rehman ACCA
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Lawrence House 37 Normanton Road Derby Derbyshire DEI 2GJ Date:.............. ..........., .
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Al-Qayoom Foundation International
Statement of Financial Activities for the Year Ended 31 December 2023
| Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total tunds carried forward 12 funds Total income Income and Endowments from: Note Donations and legacies Total income Expenditure on: Raising funds Charitable activities Income and Endowments from: Note Donations and legacies Expenditure on: Raising funds Charitable activities Total expenditure |
(19,981) (19,981) 12,279 12,279 12,279 63,185 34,007 34,007 Unrestricted Total funds 2023 32,260 32,260 32,260 (_18,555) (18,555) (1,426) (1,426) 34,007 34,007 (28,834) (28,834) (635) (29,469) (29,469) 63,185 2022 |
|---|---|
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Al-Qayoom Foundation International
| Net income | 4,538 | 4,538 | |
|---|---|---|---|
| Net movement in funds | 4,538 | 4,538 | |
| Reconciliation of funds | |||
| Total fuhds brought forward | 58,647 | 58,647 | |
| Total funds carried forward | 12 | 63,185 | 63,185 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 12.
The notes on pages 8 to 13 form an integral part of these financial statements. (Registration number: 1129424) Balance Sheet as at 31 December 2023
| 2023 Note Current assets Debtors 8 Cash at bank and in hand 9 101,883 Total assets less current liabilities 100,483 Creditors: Amounts falling due after more than one year (25,019) Net assets 75 Total funds 12 101,883 Creditors: Amounts falling due within one year 10 (1,400) Funds of the charity: Unrestricted income funds Unrestricted funds 75,464 |
2022 1 5,000 83,739 97,539 (34,354) 63,185 75,464 98,739 (1,200) 63,185 |
|---|---|
| 75,464 |
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Al-Qayoom Foundation International
statements on pages 6 to 13 were approved by the trustees, and authorised for issue on ..... .... and signed on their behalf by:
M. A. QA700M IO-(AM
Mr Mohammed Abdul Qayoom Khan Trustee
The notes on pages 8 to 13 form an integral part of these financial statements. Notes to the Financial Statements for the Year Ended 31 December 2023
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 201 1.
Basis of preparation
Al-Qayooln Foundation International meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
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Al-Qayoom Foundation International
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.
Raising fiuuls
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
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Al-Qayoom Foundation International
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part Il of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course ofbusiness.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impain•nent. A provision for the impailment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly tiquid investments that are readily conveftible to a known amount of cash and are subject to an insignificant risk of change jn value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as curent liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
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Al-Qayoom Foundation International
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
2 Income from donations and legacies Donations and legacies; Unrestricted Donations from individuals funds Totat Gift aid reclaimed General funds Total for 2023 Total for 2022 24,550 24,550 3 Expenditure on raising funds 34,007 34,007
- a) Investment management costs
Allocated support costs
Total for 2023 Total for 2022
- 4 Expenditure on charitable activities
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Unrestricted
funds Total
General funds
Note
28,834 28,834
Total
costs
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Governance costs
Total for 2022
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Al-Qayoom Foundation International
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Unrestricted I ,426 I ,426 funds Total General funds 635 635 Note Total expenditure
5 Analysis of governance and support costs
----- Start of picture text -----
Total
funds
1 ,426
1,426
635
Governance costs
Unrestricted
funds
General
Other governance costs
Total for 2023 1 ,426
Total for 2022 635
6 Net incoming/outgoing resources
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Net incoming resources for the year include:
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Al-Qayoom Foundation International
1 1
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
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Al-Qayoom Foundation International
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
2023
| 7 Taxation The charity is a registered charily and is therefore exempt from taxation. 8 Debtors Other debtors 9 Cash and cash equivalents Cash at bank Short-term deposits 10 Creditors: amounts falling due within one year Other creditors Accruals 11 Creditors: amounts falling due after one year Bank loans 12 Funds Balance at 1 Incoming Unrestricted funds January 2023 resources General 63,185 32,260 |
2023 2022 15,000 2023 2022 101,069 82,925 814 814 101,883 83,739 2023 2022 200 1,200 I ,200 1,400 1,200 2023 2022 25,019 34,354 Balance at 31 Resources December expended 2023 (19,981) 75,464 |
|---|---|
Al-Qayoom Foundation International for the Year Ended
31 December 2023
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Balance at 31
Balance at 1 Incoming Resources December January 2022 resources expended 2022
Unrestricted funds General 58,647 34,007 (29,469) 63,185
This page does not form part of the statutory financial statements. Page
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Al-Qayoom Foundation International Statement of Financial Activities by fund
| Statement of Financial Activities by fund | |
|---|---|
| Income and Endowments from: | |
| Donations and legacies | (28,834) |
| Total income | |
| Expenditure on: | (29,469) |
| Raising funds | |
| Charitable activities | 4,538 |
| Total expenditure | |
| Net income | 4,538 |
| Net movement in funds | |
| Reconciliation of funds | 58,647 |
| Total funds brought forward | |
| Total funds carried forward | 63,185 |
| Total | |
| Unrestricted | |
| Funds | |
| 2023 |
32,260 32,260 (18,555) (l ,426) (19,981) 12,279 12,279 63,185 75,464 Total Unrestricted Funds 2022 34,007 34,007
Al-Qayoom Foundation International for the Year Ended
31 December 2023
Detailed Statement of Financial Activities
Income and Endowments from: Donations and legacies (analysed below)
Total income
Expenditure on: Raising funds (analysed below) Charitable activities (analysed below)
Total expenditure
Net income Net movement in funds
Reconciliation of funds
| Reconciliation of funds | Reconciliation of funds |
|---|---|
| Total funds brought forward | |
| Total funds carried f01•ward | |
| Total Total 2023 2022 |
|
| 32,260 | 34,007 |
| 32,260 | 34,007 |
| (18,555) | (28,834) |
| (1 ,426) | (635) |
| (19,981) | (29,469) |
| 12,279 | 4,538 |
| 12,279 | 4,538 |
| 63,185 | 58,647 |
| 75,464 | 63,185 |
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Al-Qayoom Foundation International for the Year Ended 31 December 2023
Detailed Statement of Financial Activities
(continued)
| Total | Total | 2023 | |
|---|---|---|---|
| 2022 | |||
| Donations and legacies | |||
| Appeals and donations | 24,550 | 30,007 | |
| Gift Aid tax reclaimed | 4,000 | ||
| 32,260 | 34,007 | ||
| Raisingfimds | |||
| Charitable donations | (10,395) | (16,668) | |
| Travel and subsistence | (750) | (1,200) | |
| Advertising | (6,200) | (10,538) | |
| Accountancy fees | (1,200) | (428) | |
| Bank charges | |||
| Charitable activities | |||
| Loan interest | (1,426) | ||
| (1,426) | (635) |
This page does not form part of the statutory financial statements. Page 19